{"id":113648,"title":"Bitcoin and Gold Experience a Rally on Monday","publisher":"Share Talk","author":"sharetalk","published":"2024-04-08T09:48:47+00:00","modified":"2024-04-08T09:48:47+00:00","canonical_url":"https://www.share-talk.com/bitcoin-and-gold-experience-a-rally-on-monday/","markdown_url":"https://www.share-talk.com/bitcoin-and-gold-experience-a-rally-on-monday.md","json_url":"https://www.share-talk.com/bitcoin-and-gold-experience-a-rally-on-monday.json","category":"Blogs","categories":["Blogs","Fintech","Technology","Technology, Media & Telecoms"],"tags":["Binance","Bitcoin","BNB","BTC","cryptocurrency","DOGE","Dogecoin","Elon Musk","ETFs","ETH","Ethereum","Litecoin","LTC","Ripple","Sam Bankman-Fried","SEC","SOL","Solana","TSLA","US Securities and Exchange Commission","USA","XRP"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/12/BTC-22_12_23.jpg?fit=1200%2C800&ssl=1","format":"news","language":"en-GB","content":"The digital counterpart of gold, Bitcoin (BTC), paralleled the [rally of physical gold this Monday](https://www.share-talk.com/gold-prices-skyrocketed-to-a-record-high-of-2372-45-per-ounce/). While it hasn’t reached a new all-time high like its tangible counterpart, Bitcoin witnessed a significant increase.\n\nAs the UK markets opened, Bitcoin’s value surged by 2.8%, pushing its price over $71,350 at the time this was written.\n\nShould the current trend continue, the BTC/USD pair is on track to exceed its two-week high, potentially challenging the all-time high (ATH) of $73,777 recorded in mid-March.\n\n[!\\[\\](https://www.share-talk.com/wp-content/uploads/2024/01/BTC-15-JAN-2024-300x200.jpg)](https://www.share-talk.com/understanding-bitcoin-halving-its-definition-timing-and-significance/)\n\n#### [Understanding Bitcoin Halving: Its Definition, Timing, and Significance.](https://www.share-talk.com/understanding-bitcoin-halving-its-definition-timing-and-significance/)\n\nAn examination of Binance’s order book indicates that the $71,500 mark is a key resistance level for Bitcoin, as evidenced by the concentrated sell orders at this price point.\n\nBitcoin’s recent upward trajectory is partly due to renewed interest in exchange-traded funds (ETFs) after a dip in late March and early April.\n\nAccording to Farside’s bitcoin ETF tracker, last Friday saw an influx of $203 million into the bitcoin ETF market, following a $213.4 million inflow the previous day.\n\nSo far this year, bitcoin ETFs have amassed a net total of $12.6 billion, significantly influencing the digital currency’s value.\n\nThis week, Bitcoin has experienced a 2.7% increase, surpassing Ethereum (ETH), the second-largest cryptocurrency, which has seen a rise of less than 1%.\n\nThe trading value of the ETH/USD pair was last recorded at $3,560.\n\nLooking at the wider altcoin market, both BNB and Dogecoin (DOGE) have gained a few percentage points week-on-week, whereas Solana (SOL) has seen a 7.3% decline in value against the US dollar.\n\nThe total value of the global cryptocurrency market is currently at $2.66 trillion, with Bitcoin accounting for 52.8% of this market share."}