Markets, BNB, SOL, XRP, Bitcoin, News Some merchants are revisiting the cryptocurrency as a possible safe-haven asset amid financial uncertainty. 

Surging gold costs and bitcoin’s (BTC) comparatively robust value motion amid a world market sell-off have some merchants revisiting the latter’s function as “digital gold” — a giant narrative in bitcoin’s early years however one which has misplaced steam in current instances.

BTC zoomed above $87,000 in Asian morning hours, with Cardano’s ADA, BNB Chain’s BNB, XRP and ether (ETH) including as a lot as 1.5%. The spike reversed all declines since Thursday, with tokens equivalent to Solana’s SOL up 5.2% prior to now week.

The tariff-driven commerce wars have sparked fears of inflation and forex devaluation, prompting comparisons of the asset to gold’s historic function as a hedge.

“Although bitcoin has had a close correlation with U.S. equities, it seems to be changing with a stronger tie to the rise of the price of gold, which has been a safe haven while equities have plummeted,” Nick Ruck, director at LVRG Research, informed CoinDesk in a Telegram message on Monday.

“Bitcoin crossed $87,000 as a sign of renewed investor confidence as the market continues to stabilize after panicking over tariffs. It’s also worth noting that Bitcoin’s digital gold narrative is taking off as both assets have grown in tandem,” Ruck mentioned.

Gold set contemporary highs Monday with a push above $3,380 per ounce, bringing year-to-date good points to 25%. Bitcoin has dropped greater than 20% from a January peak of $108,000, although Monday’s push over $87,000 despatched the asset to its highest stage since Donald Trump’s “liberation day” in early April.

Pressure on the buck has continued to develop because the greenback index (DXY) crashed to a three-year low, with some stating that almost all dangerous information has been “priced in” and that bitcoin might see upside within the coming days.

“Trump’s inclination to remove Jerome Powell as Fed Chair and force interest rate cuts is causing people to sell the U.S. dollar and U.S. government debt, moving to other safe haven assets such as gold, European bonds, and now, Bitcoin,” Jeff Mei, COO at BTSE, informed CoinDesk in a Telegram message Monday.

“After all, when rates are cut, more money flows into the money supply, devaluing the U.S. dollar. In general, downward pressure on the US dollar is growing and this could be a driving catalyst for Bitcoin to become a safe haven asset,” Mei added.

Meanwhile, right here’s a machine’s view of the markets immediately, powered by the CoinDesk Markets AI bot.

ADA Price Analysis

• Cardano’s ADA is above 63 cents with robust technical indicators pointing to continued upward momentum regardless of macroeconomic headwinds.
• Price motion fashioned a transparent ascending channel with robust help at $0.612, which efficiently held throughout a number of retests.
• Notable quantity spike occurred on 2025-04-21 00:00 when quantity reached 68M (3x common), propelling value by key resistance at $0.630.
• Fibonacci extension ranges counsel 64 cents as the subsequent goal, with an general vary of 0.031 (5.1%), indicating substantial volatility.
• RSI stays under overbought territory regardless of the rally, suggesting potential for continued upward momentum.
• Consolidation close to earlier resistance suggests accumulation reasonably than distribution.

XRP Price Analysis

• XRP’s decisive breakout indicators a possible finish to months-long sideways buying and selling, with technical indicators pointing to additional good points forward.
• Fibonacci retracement ranges counsel potential continuation towards $2.15, with the 61.8% extension pointing to $2.18 as the subsequent goal if bullish momentum persists.

SOL Price Analysis

• SOL breaks decisively above $135 resistance, surging 10.2% to determine new help ranges with robust quantity affirmation
• Key technical battle emerges between $129 help and $144 resistance zones, with on-chain knowledge exhibiting 5.75% of realized quantity concentrated at these important ranges
• Price motion fashioned a transparent ascending channel with larger lows and better highs, notably evident within the April 19-21 rally.
• Volume considerably elevated throughout upward actions, confirming the energy of the bullish pattern.
• The 48-hour momentum indicators present bullish divergence with value sustaining energy above the 20-hour shifting common.

BNB Price Action

• BNB breaks $600 barrier with 3.2% surge as massive holders accumulate throughout market volatility.
• Recent quarterly token burn eliminated 1.57 million BNB price over $1 billion, supporting value momentum.
• Open curiosity in BNB rose 3.3% to $760 million regardless of unfavourable funding charges, with 68% of merchants betting on continued value will increase.
• BNB broke out of its consolidation vary with a 3.2% surge from $592.63 to $601.74.
• Price motion exhibits clear bullish momentum with growing quantity, notably through the breakout candle the place quantity spiked to 55,661 items.
• Fibonacci extension targets counsel potential continuation towards the $605-610 zone if present momentum persists.

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