Gold breaks crucial levels approaching new all-time highs as Middle East tensions peak. Gold drop below $3,400 may spark a risk-on shift, boosting altcoins after safe-haven pressure. The chart shows a potential consolidation period with bearish divergences to watch. Gold’s breakout to new all-time highs is turning heads across financial markets, including crypto. With yields climbing and oil prices surging amid heightened Middle East tensions, the precious metal has surged past key resistance levels, pushing liquidity beyond $3,440. This move has established a crucial threshold that could shape the direction of risk assets like altcoins. Cryptocurrency analyst Michael van de Poppe emphasized gold’s growing importance as a market signal, noting that macroeconomic fundamentals remain the dominant force behind current financial trends. The analyst believes gold is on the verge of a consolidation phase, a development he sees as potentially easing the pressure on crypto markets caused by the recent safe-haven demand for gold. An un-updated chart on Gold. This remains to be the most important chart to watch, as macroeconomics are moving markets. – Yields … The post Gold Chart Analysis Shows Critical Juncture for Altcoin Markets as Tensions Peak appeared first on Coin Edition .
