Risk aversion boosts gold, hurts bitcoin: Crypto Daybook Americas

DWF Labs, a crypto market maker, has completed its first physical gold trade, marking a significant entry into traditional commodities as gold prices rise. This move reflects a growing interest in diversifying investments beyond cryptocurrencies amid fluctuating market conditions.

Bitcoin's price has slipped below $86,000, reflecting a significant downturn in the cryptocurrency market, which has been exacerbated by tax-loss selling and broader economic concerns. Digital asset treasury companies, among the year's worst performers, faced steep declines on Tuesday.

Billionaire investor Ray Dalio has expressed increased caution regarding Bitcoin's suitability as an official reserve asset, acknowledging its scarcity but emphasizing the challenges posed by its traceable nature. He argues that the public transaction records and potential for external interference make it unsuitable for central banks, which typically prefer assets like gold.

Aptos' native token APT has seen a decline of 2.8% amid a broader downturn in the cryptocurrency market, as indicated by the CoinDesk 20 index, which also fell by 2.8%. This decline follows a period of increased sell pressure affecting various cryptocurrencies.