From Cointelegraph

May 6, 2025 8:30 am:

Bitcoin is struggling as gold gains nearly 5% this week, sparking questions about their correlation amid macroeconomic shifts. Traders anticipate a short-term Bitcoin slump amidst a broader price rebound. The crypto market appears directionless compared to gold’s performance.

BTC price stalls at $95,000, nearing key support at $93,500, as gold outperforms with 1.5% daily gains and 4.4% week-to-date gains. Crypto implied vols remain low, with spot prices stagnant. The market is observing various macro swings, including a 3% gold surge and weaker-dollar narrative.

Analysts predict Bitcoin may decouple from gold’s safe haven bid and realign with broader risk proxies. Despite conflicting signals from MACD indicators, traders anticipate BTC consolidating before the Federal Reserve’s decision on interest rates on May 7. The yearly open support level may not hold, with $91.6k as a likely target.

Read more at Cointelegraph: Bitcoin risks sub-$92K retest as BTC price fails to match 4% gold gains