Last weekend, I was chilling at a café, scrolling through the ticker, and I felt a wave of sadness, you know? Both of our national investment channels, Gold and Crypto, took a step back today after a week of the Fed dropping some hawkish messages. Those of you who managed to catch the dip last week must be sitting tight and holding your breath, right?
Quickly checking the situation to see if there's anything "hot" for the next trade setup:
Team "Gold Bars": SJC is losing steam before hitting the 150 million mark. Those who were excited at the start of the month lining up to FOMO into gold near 159 million per tael are probably feeling a bit anxious now. Today, the domestic price of SJC gold officially wrapped up a rather gloomy trading week, falling back to around 144.2 million (buy in) - 147.2 million (sell out).
Besides the world cooling down to around $4,157/ounce, the main reason is the temporary easing of tensions in the Strait of Hormuz, falling crude oil prices, and the Fed threatening more rate hikes by year-end, making the opportunity cost of holding gold suddenly much higher. At this point, anyone holding gold better be in it for the long haul because day trading would be "burning hands" right now.
Team "Crypto Sharks": Bitcoin shakes off the leverage crowd. The coin market isn’t looking much better. Bitcoin ($BTC) has officially been pushed back to around $62,800 after a week of trying to hold the line. Looking at that daily candlestick chart in red is enough to cause depression—over $460 million from the Long side got wiped out in a flash.
But let's be real, lately Bitcoin has been decoupling from the tech stock rally. Retail traders are panicking and dumping their bags fearing the market might crash to $60,000, but on-chain data shows that big wallets and funds are quietly pulling BTC into cold storage for long-term holding. At this point, it's all about who can hold their nerve!
💡 End of day focus: So what about Ethereum ($ETH)?
In every cloud there's a silver lining. If you look at the second sibling, Ethereum ($ETH), you'll see a much "easier" scenario. Although it dipped slightly alongside BTC to around $1,700 (a bit over 45 million VND), ETH is currently the hottest ticket being chased by the elite.
Whales are shopping early for Tết: While the crowd is crying about losses, the wallet of former BitMEX CEO Arthur Hayes and a slew of other sharks are calmly loading up with tens of millions to "scoop" cheap ETH and stake it away for some sweet returns.
Waiting for the Super Upgrade: The only reason ETH is holding strong around $1,700 is that smart money is betting on the major Glamsterdam upgrade in the latter half of this year—a boost that will reduce gas fees by nearly 80%.
To sum it up: Gold is deep in correction, Bitcoin is testing market sentiment, while Ethereum is opening up a sweet accumulation entry point for those looking to stack real assets. Instead of panicking with the crowd, reallocating capital into ETH right now might just be the smartest move for the coming months, folks.
If anyone is holding ETH or thinking about adding to their position at this price point, click on the chart or Cashtag $ETH below to check the chart and let's chat about the targets for next week! 👇
#CryptoUpdate #GoldPrice #Bitcoin #Ethereum #ETH
