US-Venezuela Gold Deal Boosts Bitcoin and Gold Prices
- Venezuela’s Minerven signed a contract to supply up to 1,000 kilograms of gold dore bars to Trafigura for U.S. refineries.
- Gold prices rose to approximately $5,170 per ounce amid market volatility.
- Bitcoin (BTC) surged over 7%, reaching a price of $74,051 following positive economic indicators.
- Total BTC futures open interest increased by more than 12%, reaching $49.45 billion.
- The ISM Services PMI report contributed to the BTC price surge, pushing it above its recent resistance levels.
The recent gold deal aligns with U.S. efforts to strengthen ties with Venezuela and has positively impacted both the gold and cryptocurrency markets. The rebound in BTC is also supported by strong job growth in the private sector and rising service sector activity.
As BTC trades at around $72,815, it approaches its moving average of $75,878, indicating significant trader interest amidst these developments.(Source)
