Cryptocurrencies continued their rebound on March 10, with Bitcoin climbing above $71,000. As of 17:53, it had risen more than 4% over the past 24 hours. HYPE saw an even sharper increase, surging over 11%, with trading volume exploding by nearly 180%. Globally, more than 82,000 cryptocurrency traders were liquidated, with total liquidations amounting to $328 million.
At the same time, spot gold extended its intraday gains to as much as 1%, currently trading above $5,175 per ounce. Spot silver advanced 1.8%, hovering around $88.
Several institutions remain optimistic about the medium to long-term performance of gold prices. Xinda Futures suggested a cautious short-term stance but indicated potential upside for gold prices over the longer term, recommending buying on dips. Huaxi Securities forecasted that gold prices could rise between 10% and 35% by 2026.
On the geopolitical front, military strikes launched by the United States and Israel against Iran have entered their 11th day. Iranian media widely suggest that, given the current progression of hostilities, Iran will continue to organize effective counterattacks against the aggressors and is prepared for a prolonged war.
On the evening of March 9 local time, former President Trump stated that strikes against Iran would end "soon," but not within the current week. He also mentioned that, due to market turmoil caused by the attacks, he would lift some oil-related sanctions to stabilize oil prices. However, he is still considering measures to control the strategic Strait of Hormuz.
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