The cryptocurrency market's decline on Sunday night was partly due to concerns about a gap-up opening for gold and silver on Monday.
At 7 AM in Asia, gold and silver opened with a gap, but then recovered. BE followed suit almost identically.
Haha, very good. Previously, people said the cryptocurrency market followed US stocks; now it's following precious metals.
Bybit's XAUT/USDT trading pair is quite reflective of market conditions. When gold and silver aren't hot, spot trading volume is only around 20 million, but last week it surged to 100 million. In the past few days, it has dropped to 60-80 million.
When sentiment is low, the premium is over $20; when sentiment improves, the premium is over $20.