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Gate Square New & Returning Creator Rewards are ongoing!
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Bitcoin rises 1% amid market volatility as safe haven demand strengthens
Source: CryptoNewsNet Original Title: Bitcoin rises 1%, Nasdaq futures and dollar drop as Trump-Powell feud escalates Original Link: Bitcoin BTC climbed 1% Monday afternoon Hong Kong time as escalating tensions between political figures rattled investors, sending both U.S. stock futures and the dollar index lower.
Bitcoin rose to $92,000 but stayed inside last week’s price range of $89,000 to $95,000. Nasdaq futures dropped 0.8%, S&P 500 futures fell 0.5%, and the dollar index slipped to 99.00 from Friday’s 99.26 peak.
BTC usually moves with the Nasdaq, but not this time, hinting at safe haven demand for the cryptocurrency – people wanting it as a “hideout” amid market uncertainty. BTC proponents have long hailed the cryptocurrency as an anti-establishment asset and a hedge against fiscal and monetary imprudence. Gold, a traditional safe haven, rose to a record high of $4,600 per ounce.