Bitcoin vs Gold: BTC eyes short-term recovery, XAU slides as Iran denies planned talks with US
- Bitcoin regains momentum, rising above $63,000, supported by broadly improving momentum indicators.
- Gold slides toward the pivotal $4,000 level, weighed down by geopolitical uncertainty in the Middle East.
- Iran confirms temporary Hormuz passage talks with Oman, denies any planned negotiations with the US.
The cryptocurrency market shows broad signs of recovery, with Bitcoin (BTC) edging higher above $63,000 on Monday. This follows a sudden correction to the daily low of $62,300, which aligns with persistent risk-off sentiment. Meanwhile, Gold (XAU) remains structurally weak, trading around the crucial $4,000 level.
Iran in talks with Oman, denies planned talks with the US
Iran said on Monday that it had no plans to start peace negotiations with the United States (US) despite President Donald Trump's claims that the discussions were scheduled to commence on the same day.
“A deal is imminent, having to do with the Hormuz Strait and also, ultimately, the denuclearization of Iran," Trump stated on Sunday after calling off strikes on Iran that he said would have been the "biggest attacks since World War II."
Still, Iran’s Foreign Minister Abbas Araghchi confirmed ongoing talks with Oman on establishing a safe “temporary passage” route for vessels through the Strait of Hormuz, a CNN report highlighted. Araghchi added that the discussions do not depend on whether the strait is “open or closed.”
Meanwhile, crypto market sentiment remains dilapidated, embedded in the Fear territory tab 28, as reflected in the Fear & Greed Index. If risk-off sentiment persists, weighing on demand, it could cap recovery potential and perhaps prompt further investor selling.
It is worth mentioning that Switzerland has confirmed that it is in contact with both the US and Iran regarding potential peace negotiations and is ready to offer assistance if requested by both countries, according to the Islamic Revolutionary Guard Corps (IRGC)-affiliated Tasnim news agency.
Technical analysis: Bitcoin sustains neutral outlook as support holds
Bitcoin trades at $63,175, keeping a bearish near-term bias as price holds beneath the key Exponential Moving Averages (EMAs). The 50 EMA at $63,679, together with the 100 EMA at $63,929 and the 200 EMA at $64,085, all sit overhead and suggest the recovery is still capped within a broader corrective phase.
The Moving Average Convergence Divergence (MACD) histogram has turned back above zero, hinting at improving momentum, while the Relative Strength Index (RSI) near 48 remains neutral and reinforces the view of an incomplete bullish reversal while these averages stay unreclaimed.
Immediate resistance appears at the 50 EMA clustered near $63,679, followed by the 100 EMA at about $63,929 and the 200 EMA around $64,085, which define a dense supply zone ahead of the recent downward resistance trendline break level at $64,325.
A sustained move above this layered barrier would be needed to ease the current bearish tone and open the way for a stronger recovery. Until then, lack of clearly defined nearby support in the dataset leaves BTC vulnerable to further downside probes if momentum falters again under these caps.
Gold technical outlook: XAU falls as bears tighten grip
Gold trades around $4,033, extending its correction beneath a dense layer of moving average resistance that keeps the near-term bias bearish. The 50 Exponential Moving Average (EMA) at $4,061, the 100 EMA at $4,069 and the 200 EMA at $4,121 all sit above spot, suggesting the metal remains pressured below its medium and longer-term trend structures.
The downward resistance trendline, with a break point around $4,095, reinforces this capped tone, while the Relative Strength Index (RSI) has slipped back toward the low-40s, hinting at fading upside momentum after the latest pullback.
On the topside, immediate resistance lies at the 50 EMA near $4,061, followed by the 100 EMA at $4,069. A sustained move above the trendline break area around $4,095 would open the way toward the 200 EMA at $4,121, where sellers are likely to reassert control unless momentum improves markedly. Sustained losses would force bulls to seek reengagement at $4,000. Failure to do so would keep XAU vulnerable to further downside extension.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Bitcoin, altcoins, stablecoins FAQs
Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.
Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.
Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.
Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.
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