Red Tuesday: Bitcoin falls below $60k, stocks bludgeoned in pan-market selloff

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- Optimism regarding the health of the U.S. economy remains relatively upbeat, with many economists seeing the chance of a recession as unlikely as the U.S. labor market remains robust.Gold is the cornerstone of stability as government debt rises out of control - abrdn’s Minter - The gold market continues to see significant selling pressure as investors capitulate to the idea that the Federal Reserve will maintain its restrictive monetary policy longer than expected.The gold market is testing critical support just above $2,300 an ounce and is down more than 2% on the first day of the Federal Reserve's monetary policy meeting. Gold has lost nearly 6% after hitting a record high above $2,448 an ounce three weeks ago.

Choi Wan-ho, head of the management planning team at the Bank of Korea's foreign capital management agency, published an article on the BOK's blog on April 30 in which he explained the reasoning behind the central bank’s reticence to buy gold.Bank of Korea chooses U.S.

Australia is set to approve a new wave of spot Bitcoin ETFs for trading on ASX by the end of 2024 while the debut of BTC and Ether ETFs in Hong Kong was met with a muted response. - The gold market is not able to attract a safe-haven bid, with prices hovering near session lows even as consumer optimism continues to fade, raising the risk of slower economic activity.Tuesday, the U.S.

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