The dominant cryptocurrency traded above $83,000, while gold soared past $3,000 for the first time

Bitcoin (BTC) saw modest gains over the past 24 hours, rising 0.76% to $83486.74, though it remains down 6.14% over the past week.

Bitcoin (BTC) showed minimal gains in the past 24 hours, with values rising 0.76% to reach $83,486.74 by 07:24 (10:24 GMT+3). BTC also saw a 6.14% decline over the past seven days. Meanwhile, gold reached highs of $3,004.86.

Bitcoin (BTC) is seen trading at $79,931.85, the lower level of the 24-hour trading range. The cryptocurrency's value has oscillated between $79,931.85 and $83,465.91.

Here's a glance at the latest market figures:

* Bitcoin is trading at $83,444.5.

* Gold futures are up 0.44% to $1,978.

* U.S. futures slid 0.17%, while futures lost 0.33%.

* futures advanced 0.27%.

Gold Edges Past $3K as Trump Tariffs Boost Demand for Safe-Haven Assets

Spot gold briefly surpassed $3,000 for the first time in history before settling at $2,992, according to Monex Precious Metals. The milestone is attributed to President Donald Trump's escalating trade tariffs, which have amplified investor anxieties and fueled demand for traditional safe-haven assets.

Despite the significant price level, bitcoin, often termed “digital gold,” displayed a muted response. This minimal reaction suggests that investors might still favor physical gold as the primary hedge against macroeconomic uncertainties.

The ongoing tariff dispute between the U.S. and its trading partners took another turn as the European Union retaliated against American steel and aluminum tariffs with a 50% tax on U.S. whiskey exports. In response, President Trump threatened a steep 200% tariff on European wine and spirits.

These developments have heightened apprehensions of a prolonged trade war, potentially placing pressure on global economic growth and influencing risk sentiment within the crypto market.

Moreover, Bloomberg reports that the U.S. Federal Reserve anticipates maintaining current interest rates through the first half of the year, with two rate cuts expected starting in September. Lower interest rates usually benefit risk-on assets like bitcoin, as they decrease the attractiveness of fixed-income investments and boost liquidity in financial markets. However, for now, BTC is encountering difficulties due to macroeconomic concerns.