Bloomberg: Gold rebounds, cryptocurrencies remain under pressure

According to a Bloomberg report on February 4th, gold and crypto assets diverged significantly amid pressure on global risk assets. Gold prices rebounded after falling from their historical highs, regaining the $5,000 per ounce mark. Some funds entered the market on dips; Fidelity's fund stated that after experiencing its "biggest drop in forty years," it is ready to buy gold again, believing the market bubble has been somewhat deflated. Meanwhile, the crypto market continued its decline. Since January 29th, the total market capitalization of crypto assets has shrunk by approximately $467.6 billion, with Bitcoin leading the decline. Renowned investor Michael Burry warned that Bitcoin has fallen by about 40% since its October high, and a self-reinforcing "death spiral" cannot be ruled out. Data shows that since the October peak, crypto assets have lost a cumulative $1.7 trillion in market capitalization. Against the backdrop of macroeconomic uncertainty and declining risk appetite, funds are clearly flowing back into traditional safe-haven assets such as gold.