Bitcoin slips while retail runs to goldBitcoin dropped back below $64K and hit a one-week low, while gold stole the spotlight. XAU jumped to $4,435 per ounce, its highest level in nine weeks, as investors moved back into safe-haven mode ahead of US CPI data.
The funny part: Bitcoin is still moving with gold on a 90-day basis, but right now gold is getting the love, and BTC is fighting resistance.
What it means:— Gold ETF GLD saw $50M in retail inflows on Aug. 5, the biggest daily retail inflow since March.
— Total GLD inflow that day reached $637M.
— In August, investors have already added around $1.4B to GLD.
— US spot Bitcoin ETFs saw $244.4M in inflows, but BTC still failed to hold momentum.
Context:— BTC is stuck below the key $66K zone.
— The 50-month EMA sits near $65,827 and keeps blocking the move higher.
— Since June, Bitcoin has closed above that level only three times.
— If BTC breaks above $65.8K, traders see a possible run toward $73K.
Bottom line: gold is getting the panic money, while Bitcoin is still waiting for proof. CPI can decide the next move: break $66K, and BTC gets room to run. Fail again, and this stays another range bounce with weak conviction.
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