Can we get a crypto pump, por favor? Meanwhile, precious metals have hit all-time highs recently, and we\u2019re finally seeing a new gold price drop. If all your TA brought you to this, what was the point of the TA? Might as well just flip a coin.<\/p>\n
Spot gold plunged 6.3% on Tuesday to around $4,090 per ounce, while silver fell nearly 9%, as traders dumped positions after technical indicators signaled that the rally had gone too far, too fast.<\/p>\n
So what\u2019s going on with gold<\/a>, and is this a larger indicator that we\u2019re going into a global economic recession<\/a>?<\/p>\n (Source: TradingView<\/a>)<\/p>\n Sorry, I sold when I realized outside of coins, bullion, and jewelry, there isn\u2019t much practical use for gold in the modern world. Maybe fake teeth?<\/p>\n Gold crashes 5% in a single day What\u2019s the point of this again? It\u2019s clearly not a store of value or a currency.<\/p>\n \u201cA drop of more than 5% is rare,\u201d said Alexander Stahel, a Swiss resources investor. \u201cIn theory, it would be once in hundreds of thousands of trading days.\u201d<\/p>\n BREAKING: Spot gold prices extend their decline to over -6% on the day, now on track for the biggest daily decline since April 2013.<\/p>\n The long overdue gold pullback has finally arrived. pic.twitter.com\/xPEKXvF2Lm<\/a><\/p>\n \u2014 The Kobeissi Letter (@KobeissiLetter) October 21, 2025<\/a><\/p>\n\n \u00a0<\/p>\n 99Bitcoins analysts say the latest correction doesn\u2019t spell the end of gold\u2019s rally but rather a necessary recalibration after months of speculative excess.<\/p>\n Gold is clinging to key support around $4,000 \u2013 $4,050, a line that readers like gold bug Peter Schiff say separates correction from total collapse. The RSI had stayed overheated since early September for gold, and this setup was begging for a pullback.<\/p>\n On-chain data from CoinGecko<\/a> shows tokenized gold assets down 5% across Ethereum and BNB.<\/p>\n (Source: CoinGecko<\/a>)<\/p>\n Meanwhile, the dollar\u2019s rebound, driven by renewed talk of a US-China trade thaw, added further pressure to gold\u2019s decline.<\/p>\n Citigroup strategists, led by Charlie Massy-Collier, cut their overweight gold recommendation after Tuesday\u2019s collapse, predicting a near-term consolidation around $4,000.<\/p>\n \u201cPrices have run ahead of the debasement story,\u201d Citigroup wrote in a note. \u201cCentral bank diversification away from the U.S. dollar will eventually return as a theme, but there\u2019s no rush to position for that at current levels.\u201d<\/p>\n The upshot is gold\u2019s correction looks painful but overdue. For now, traders are calling it a massive but temporary reset, not the end of the bull market.<\/p>\n EXPLORE: Now That the Bull Run is Dead, Will Powell Do Further Rate Cuts?<\/a><\/strong><\/p>\n Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/a><\/strong><\/p>\n Can we get a crypto pump por favor\u2026meanwhile, precious metals have hit all-time highs recently and we\u2019re finally seeing a new gold price drop <\/p>\n or now, traders are calling it a massive but temporary reset, not the end of the gold bull market. <\/p><\/div>\n The post Gold Price Drop? Why Is Gold Rugging Like a Sh*tcoin On The Solana Network?<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Can we get a crypto pump, por favor? Meanwhile, precious metals have hit all-time highs recently, and we\u2019re finally seeing a new gold price drop. If all your TA brought you to this, what was the point of the TA? Might as well just flip a coin. Spot gold plunged 6.3% on Tuesday to around […]<\/p>\n","protected":false},"author":0,"featured_media":106700,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-106699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/106699"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=106699"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/106699\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/106700"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=106699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=106699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=106699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Gold Price Drop? Profit-Taking Ends a Historic Bullion Surge<\/h2>\n
\nCan\u2019t even buy coffee<\/a> with it<\/p>\nGold Price Technicals and the Central Bank Pulse: Is A Rebound Happening?<\/h2>\n
Citigroup: Gold Still a Long-Term Play, But \u201cOverstretched\u201d<\/h2>\n
Key Takeaways<\/h2>\n