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74 Greed

Why Gold, Silver and Bitcoin Fell Together on September 28

Original title: WARNING: Gold, Silver & Bitcoin Crash Together, Is $4,000 Gold Next?

The Asian Guy 16:17 25 views on YouTube BTC +0.1%
Thumbnail for WARNING: Gold, Silver & Bitcoin Crash Together, Is $4,000 Gold Next? 16:17

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Summary

On September 28, gold, silver and Bitcoin dropped together within hours. One estimate put the combined notional loss in the metals at more than $550 billion. COMEX gold closed down 4% near $4,148. Silver fell 5.8% to about $61. Bitcoin touched $82,780 as the selloff unfolded. The source examines the obvious explanations: a 19-year high in Treasury yields, Fed rate-hike expectations and an oil surge tied to Iran. It then asks what those explanations fail to explain. Three assets moved together, and silver's thin futures market amplified the drop. Physical buyers such as central banks and Chinese importers appeared to stay put. The source also considers macro funds, systematic trading, forced margin selling and leverage. It compares the move with the January crash and notes what to watch with this week's PCE inflation and jobs data. The source does not claim a single bank or whale was responsible, because no credible public evidence identifies one. It separates confirmed facts from reported claims and speculation.

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Key points

  1. On September 28, gold, silver and Bitcoin fell together within hours.
  2. One estimate put the combined notional loss in the metals at more than $550 billion.
  3. COMEX gold closed down 4% near $4,148, silver fell 5.8% to about $61, and Bitcoin touched $82,780.
  4. The source examines a 19-year high in Treasury yields, Fed rate-hike expectations and an oil surge tied to Iran as obvious explanations.
  5. The source notes that silver's thin futures market amplified the drop and that physical buyers such as central banks and Chinese importers appeared to stay put.
  6. The source says no credible public evidence identifies a single bank or whale as responsible.

Questions

What happened on September 28?
Gold, silver and Bitcoin dropped together within hours. COMEX gold closed down 4% near $4,148, silver fell 5.8% to about $61, and Bitcoin touched $82,780.
Did the source identify a single seller behind the drop?
No. The source says it does not claim a single bank or whale was responsible because no credible public evidence identifies one.
What macro factors are cited as possible explanations?
A 19-year high in Treasury yields, Fed rate-hike expectations and an oil surge tied to Iran are cited as obvious explanations, though the source asks what they fail to explain.

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