Home BlockchainGold just erased $5.5 trillion in value and Bitcoin bulls see one huge opening ahead

Gold just erased $5.5 trillion in value and Bitcoin bulls see one huge opening ahead

by Vivek Kumar
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Gold Market Cap

Gold’s record-breaking rally finally blinked this week, and Bitcoin’s traders are watching what comes next.

After sprinting to an all-time high of $5,594.82 per ounce, spot gold slid to around $5,330 as investors took profits, a pullback of roughly 4.7% from the peak.

The Kobeissi Letter noted that the precious metal’s volatile price performance led to a $5.5 trillion swing in its market capitalization, the largest in history.

Gold Market Cap
Chart Showing Gold’s Market Capitalization Swing on Jan. 29. (Source: The…

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