Cryptocurrencies in Trouble

According to a report by Bijie Network: Due to investors shifting their interest to soaring precious metals, cryptocurrencies have underperformed, and Bitcoin is struggling to hold the key support level near $86,600. Analysts point out that the market is turning to defensive strategies, while Tether has disclosed that it holds $23 billion worth of gold, making it one of the largest private gold holders. Fidelity plans to launch an Ethereum-based stablecoin, and Ripple has introduced a fund management platform for managing both digital and traditional assets.