- Gold rises to $4632, Silver $90.11 & BTC to $96.5k
- US Core CPI was cooler than forecast at 2.6% YoY
- Fed independence, geopolitical tensions & US Supreme Court decisions in focus
- Bitcoin regulatory tailwind
- Bitcoin technical analysis
and prices have surged to fresh record highs, while has climbed to a two-month peak, bringing the $100k level back into focus. The moves underscore a growing convergence between Tradfi and digital alternatives, as investors respond to cooling inflation and rising geopolitical uncertainty.
Spot gold is up 1% at $4,632 per ounce, while spot silver has rallied 5% to $90.11 per ounce, taking year-to-date gains in silver to 27%. Bitcoin trades 3% higher over the past 24 hours at 95k.
Macro Drivers
Cooler-than-forecast US inflation data released yesterday reinforced expectations that price pressures remain contained. remained at 2.7% YoY, while eased to 2.6%, keeping Federal Reserve expectations intact. Markets continue to price in two rate cuts this year, with the first 25-basis-point reduction fully priced in for June. Gold, silver, and Bitcoin have historically performed better in lower interest-rate environments, as declining real yields support these non-yielding assets.
Beyond monetary policy, demand is also being driven by heightened institutional, political, and geopolitical risks. Concerns have increased regarding the Federal Reserve’s independence following reports that the Department of Justice will investigate Federal Reserve Chair Jerome Powell. Meanwhile, US–Iran tensions have escalated after former President Donald Trump warned Tehran of “very strong action” if leaders fail to show humanity amid widespread protests, prompting threats of retaliation from Iran. The rise in uncertainty has encouraged investors to rotate into safe havens and hard assets.
Silver’s Outperformance
In addition to broad macro drivers, silver benefits from fundamental drivers. The silver price has also been supported by supply constraints and rising industrial demand, particularly from solar, electronics, and energy transition sectors. Unlike gold, silver serves as both a monetary metal and an industrial input, which has amplified its upside.
Bitcoin Rises to a 2-Month High
Bitcoin’s move to a two-month high reflects expectations of looser monetary policy, a rebound in institutional demand, and regulatory tailwinds. On-chain data also suggests selling pressure has eased compared with earlier in the month.
According to SoSo Value data, spot Bitcoin ETFs recorded $753.7 million in net inflows on Tuesday, marking the strongest single-day total since October 7. The data point to renewed institutional participation, with investors rotating back into digital assets following year-end portfolio rebalancing.
Bitcoin has also gained support from optimism around crypto regulation. The US Senate Banking Committee is set to debate legislation that could establish a clearer regulatory framework for cryptocurrencies, potentially improving regulatory clarity and encouraging broader institutional adoption.
Outlook
As inflation cools but uncertainty around monetary policy, geopolitics, and institutional stability persists, capital is flowing across both traditional and crypto markets in search of resilience. Attention will now turn to US and inflation data, as well as the US Supreme Court’s decision on the legality of Trump’s tariffs, as the next catalysts.
Bitcoin Technical Analysis
Bitcoin extends its recovery from the 80.5k November low, pushing above the 94.5k resistance to a 2-month high of 96.4k. The price trades above the rising trendline and has pushed above the 61.8% Fib retracement level of the 74.4k low and 126.2k high.
Buyers, supported by the RSI above 50, will look to rise towards 100k, the psychological level, and the 50% Fib retracement.
Support can be seen at 90k, the round number. A break below here and the 50 SMA opens the door to 85K, the 78.6% Fib retracement.
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