Gold has fallen out of its October consolidation range, breaking below the key support level of $4,095.00. The move formed a long daily Japanese candlestick known as a Black Marubozu, indicating intense selling pressure and extending the corrective phase that began in late August.
The breakdown reinforces the daily downtrend visible in the channel from September. With precious metals sentiment strongly bearish amid rising Federal Reserve rate-hike expectations, analysts expect Gold to target the next round support at $4,000.00. That level previously reversed price multiple times in July and August, making it a critical technical zone.
For cryptocurrency markets, the macro signal is cautious. Rising expectations for tighter Federal Reserve policy tend to reduce appetite for risk assets, including Bitcoin and the broader digital-asset complex, because higher rates increase the opportunity cost of holding non-yielding and volatile assets. If the Fed shifts more hawkish, crypto could face similar downside pressure to gold.
