Bitcoin (BTC) hit new two-week lows at Wednesday’s Wall Street open as traders predicted a rally to a “poor” lower high.Key points:Bitcoin price action edges closer to range lows, which traders still see holding.A relief bounce should enter soon, they say, with targets closer to $70,000.US-Iran peace progress has little bullish impact on risk assets, with US stocks flat at the open.BTC price nears range lows: Is $70,000 next?Data from TradingView showed BTC price action dropping below $60,000 for the first time since June 10.BTC/USD four-hour chart. Source: Cointelegraph/TradingViewTraders had warned of increasing short interest with rising funding rates, boosting…

Gold and silver have both retreated sharply from their January 2025 highs, falling below key psychological milestones. Gold is down roughly 28% from its January peak of $5,600 and now trading below $4,000 per ounce, while silver has fallen more than 50%, slipping beneath $59 per ounce on Wednesday. The sell-off has been driven largely by growing fears of tighter monetary policy under new Federal Reserve Chair Kevin Warsh. Markets are currently pricing in two 25 basis point rate hikes by March 2027, which would lift the federal funds rate to 4.00%-4.25% due to renewed inflation fears. The reversal marks…

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