Bitcoin Catches Bid, Jumping Above $112K as Gold and Silver Plunge: Why This is the Starting Point For Altcoin Season

BitcoinWorld Bitcoin Catches Bid, Jumping Above $112K as Gold and Silver Plunge: Why This is the Starting Point For Altcoin Season Bitcoin (BTC) surged past $112,000 on Tuesday as an unusual trend played out : investors rotated out of gold and silver, both of which suffered their steepest single-day drop in ￰0￱ gold had its worst day since 2013 as it lost around 6%, while silver plunged around 9%, marking its sharpest single-day plunge since ￰1￱ timing of Bitcoin’s gains coincided with the collapse of gold and silver, prompting some experts to speculate that this is a classic “BTC-first” event preceding ￰2￱ this does mark the start of altseason, capital typically flows to real-utility projects, such as Digitap ($TAP) , a new startup with a live global money app. 3 Signals From Tuesday: Metals Drop, BTC Pops, Alts Stir Gold and silver’s multi-month rally abruptly reversed on Tuesday, catching investors who had grown accustomed to steady gains in recent months off ￰3￱ note that such a harsh correction among safe-haven assets, with no new news, likely reflects profit-taking and a shift to risk-on ￰4￱ first beneficiary was Bitcoin, which rebounded from around $107,000 to over $112,000 within ￰5￱ gold and silver at least temporarily out of favor, sidelined cash made its way into the crypto market, rapidly helping Bitcoin catch a bid at the expense of ￰6￱ rotation in market fortunes could prove to be more than just a one-off event.

Tuesday’s selloff in precious metals could very well be the spark that lifts Bitcoin back to all-time highs, but, perhaps more importantly, ignites the next altcoin season.