Since the start of the year, Bitcoin’s price has risen almost 70 per cent
Gold tends to have a negative correlation with the dollar and rates as it does not bear interest and is priced in the US currency
Commodities including oil have also faced a headwind this month from gains in the dollar
Bullion ended Monday little changed after tumbling to the lowest level in a month
Numerous strategists have flagged $20,000 as a key point for Bitcoin
Spot gold slipped 0.2 per cent to $1,755.35 an ounce as of 9.04am in Singapore, paring the weekly gain to 0.5 per cent
Higher rates weigh on non-interest bearing bullion
West Texas Intermediate futures edged lower toward $96 a barrel after rising 2.1 per cent on Monday
The European Central Bank (ECB) raised its key interest rate by 50 basis points, the first increase in 11 years, as it confronts surging inflation
Traders are awaiting more clarity on central bank action to tackle searing inflation
Bullion is hovering above the $1,700 an ounce level as it continues be pressured by the strength in the US dollar
Bitcoin has struggled since hitting a high near $69,000 in November
West Texas Intermediate futures fell for a third session to its lowest level in three months
All major groups in the S&P 500 retreated with losses in megacaps like Tesla and Apple weighing heavily on trading
Bitcoin is more likely to tumble to $10,000, cutting its value roughly in half, than it is to rally back to $30,000
Oil markets remain in backwardation, a bullish pattern in which near-term prices command a premium to longer-dated ones
The world’s largest digital token tumbled as much as 6.4 per cent to $25,593, its lowest level since May 12
Bitcoin and the rest of the cryptocurrency complex has struggled in recent months as the Federal Reserve hikes interest rates
Cryptocurrencies have struggled as the Federal Reserve and other central banks hike rates
Bitcoin has struggled in recent weeks as the Federal Reserve hikes interest rates and inflation remains high
Investors continue to seek a store of value amid the uncertainty
Oil has rallied in the opening weeks of 2022 on the continued recovery in energy consumption
Gold is holding above $1,800 an ounce after dropping for the first time in three years in 2021
CBDCs could serve a purpose that ordinary cash can’t, by creating a new channel for monetary policy
The market is grappling with record high US oil inventories and an uneven demand rebound