Gold breaks through 4,000 USD, Bitcoin experiences a short-term pullback but the outlook is optimistic

ChainCatcher news, according to Jinshi reports, gold has first broken through the $4,000 per ounce mark, while the price of Bitcoin has seen a pullback, mainly due to profit-taking after a 7.7% surge in the crypto market in less than a week. Nevertheless, institutional interest in Bitcoin remains strong, with net inflows into U.S. spot Bitcoin ETFs exceeding $3 billion last week, bringing total net inflows to over $60 billion. XS.com market analyst Linh Tran stated that the fundamentals for Bitcoin are positive in the short term, and if the Federal Reserve signals a rate cut, Bitcoin is expected to expand new price space in the fourth quarter.