In a week of significant market fluctuations, cryptocurrencies experienced notable declines, while gold and key currency pairs showed signs of recovery. Ethereum and Ripple, two major digital currencies, saw declines of nearly 11% and 12%, respectively. Meanwhile, Bitcoin, the leading cryptocurrency, broke out of its prolonged consolidation phase earlier in the week, hitting a low of $86,050 before stabilizing around $88,500 on Wednesday. These shifts highlight the ongoing volatility within the cryptocurrency market.
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In the currency markets, the US Dollar's upward momentum was capped, allowing the EUR/USD pair to recover ground amid a positive shift in risk sentiment. The GBP/USD also showed resilience, trimming its losses and moving above 1.2650 during Wednesday's European session. These developments indicate a recovery in currency pairs following recent pressures.
Gold, a traditional safe-haven asset, also recovered some lost ground after reaching a one-week low in the previous session. Ongoing uncertainties and fears surrounding US President Donald Trump's tariff plans have provided support to gold prices. Investors often turn to gold during times of economic instability, seeking a secure store of value.
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