Gold has broken through historical highs, the European bond market is also showing clear pressure signals, and U.S. debt issuance is advancing at an almost parabolic rate. BTC is currently fluctuating near a key support level, and if this position fails to hold, the market may trigger a series of chain reactions.
Central Bank Gold Purchases and Fed Rate Cuts Support Gold Prices, Spot Gold Breaks Historical High This Week
On September 2, gold prices surpassed $3,500 per ounce, setting a new historical high. Since 2025, the spot gold price has risen by 33%, highlighting the increasing safe-haven value of gold amid global macro uncertainty and heightened market volatility. Central bank gold purchases and Fed rate cuts will continue to support gold prices, with Bank of America and Goldman Sachs bullish on gold reaching $4,000.
Against the backdrop of rising gold prices, traditional institutions are beginning to explore the feasibility of on-chain gold, making the gold tokenization sector worth watching. According to the Financial Times, the World Gold Council is seeking to launch a digital form of gold, which could create a new way of trading, settling, and collateralizing gold, fundamentally changing the $900 billion physical gold market in London.
David Tait, CEO of the World Gold Council, stated in an interview that this new form will make it possible for "gold to be transmitted digitally as collateral for the first time in the gold ecosystem." Although many investors value gold precisely for its physical nature and lack of counterparty risk, viewing it as a safe-haven asset, Tait believes that gold must be digitized to expand its market coverage.
BTC Enters Key Support Position, May Consolidate in This Range
The current key support level for BTC is $106,000–$108,000, which holds significant support in both technical and on-chain structures. This week, BTC has first dropped to this key position, and historical experience shows that the first retest generally does not lead to a direct breakdown, but rather continues to consolidate and pull back within this range. On the technical indicators, BTC funding rates have recently cooled significantly, and implied volatility has also dropped to near historical lows. This comes at a time when several major macro events are set to unfold this month, and traders are quietly adjusting their positions.
Historical data shows that such magnitude of pullbacks often harbors opportunities for excess returns. However, in practice, trading structure and entry timing are equally critical, and in a macro environment with frequent occurrences, it is easy to misjudge market volatility. How to capture potential upward momentum in the fourth quarter while effectively hedging and managing downside risks? This question deserves market attention.
Disclaimer: The market carries risks, and investment should be approached with caution. This article does not constitute investment advice. Trading in digital assets may involve significant risks and volatility. Investment decisions should be made after careful consideration of personal circumstances and consultation with financial professionals. Matrixport is not responsible for any investment decisions made based on the information provided herein.
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