Gold slips below 200-day moving average, offering glimmer of hope for bitcoin bulls
2026-06-08 10:21:14
Gold has fallen below its 200-day moving average for the first time since October 2023, slipping under $4,300 per ounce and entering bear market territory after dropping more than 20% from its January record high of $5,600. The move comes as a stronger-than-expected U.S. jobs report lifted expectations for Fed tightening and pushed the US Dollar Index (DXY) back above 100, according to CoinDesk, with CME FedWatch pricing a 25-basis-point hike in December to 3.75%-4.00%. The bitcoin-to-gold ratio rose 3% in 24 hours to 14.72 ounces as bitcoin recovered toward $63,000.
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