Bitcoin Soars as Gold Drops: ‘Risk-On’ Market Returns

Bitcoin has taken center stage this week, surging more than 4.3% and outperforming nearly all major asset classes, according to data from Ecoinometrics and CryptosRus. Meanwhile, gold experienced a sharp decline of almost 3%, standing alone as the only major asset to post losses. This is a clear indication that global markets have shifted back into a ‘risk-on’ mode. Bitcoin is benefiting from this renewed investor appetite for risk.