Bitcoin Cools as Gold and Stocks Enjoy Fresh All-Time Highs

Bitcoin has dipped below $121,400, while major stock indices like the S&P 500 and Nasdaq, alongside precious metals such as gold and silver, have reached new all-time highs. Bitcoin is up 29% this year compared to gold's impressive 53% gain. The lack of economic guidance from Federal Reserve Chair Jerome Powell, who delivered a short speech with no new insights, has left traders uncertain about future monetary policy. Analysts note that Bitcoin continues to lag behind stocks and precious metals, with predictions suggesting it may take time for Bitcoin to outperform these assets. Despite Bitcoin's recent slight pullback, it remains above its previous month’s performance and is trading closely to its recent high from the weekend. Investors appear cautious as market sentiment shifts, indicating that while Bitcoin has gained substantially this year, its relative performance against gold and major stock indices has not met expectations in the past two months.

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