BREAKING: Global central banks acquired +17 tonnes of gold in April, the 2nd monthly purchase this year.
This marks a sharp reversal from March, when central banks sold -30 tonnes of gold driven by Turkey and Russia.
Poland led purchases at +14 tonnes, bringing its year-to-date total to +45 tonnes, with gold reserves now at 595 tonnes.
China added +8 tonnes, the biggest monthly addition since December 2024, bringing official gold reserves to a record 2,322 tonnes, or ~9% of total reserves.
China has now purchased gold for 18 consecutive months.
Central bank demand for gold remains incredibly strong.
Look at this long-term Bitcoin chart. The uptrend off the Dec. 2022 low is broken. There's a huge head-and-shoulders top forming. The most likely resolution is a retest of the longer-term uptrend off the Dec. 2018 low. If it holds, that puts a bottom between $25,000 and $27,000.
BREAKING: Bitcoin drops below $60,000 for the first time since October 2024.
It's now down 27% in the last 20 days, wiping out $460 billion in market cap.
BREAKING: MicroStrategy's, $MSTR, unrealized loss on its Bitcoin holdings rises to a record -$12.7 billion.
This puts the company's position down -$28 billion over the last 12 months.
When Bitcoin is back at $20,000 that's still a lot of money to pay for nothing. Don't be fooled by meaningless benchmarks. 84% off a ridiculously high price is not a bargain.