Bitcoin Drops to $68,000 as Gold Posts Worst Week in 40 Years

Published by

Rizwan Ansari and Nidhi Kolhapur

March 23, 2026

Bitcoin Drops to $68,000 as Gold Posts Worst Week in 40 Years

Gold prices have fallen sharply to about $4,340, making this the largest weekly drop in over 40 years. This comes even as the conflict between the US, Israel, and Iran enters its fifth week,

At the same time, the crypto market is also down by 1.6%. Meanwhile, flagship cryptocurrency Bitcoin has slipped from $76,000 to around $68,000, raising concern in markets around the world

Why is the Gold Price Crashing Today?

According to recent market data, gold prices dropped below $4,340, marking one of the biggest declines this year. Gold had earlier reached nearly $4,600 in March, but suddenly fell nearly 5% in a single day.

The main reason behind this drop is rising U.S. 10-year Treasury yields, which have climbed to around 4.40%, increasing nearly 45 basis points in just three weeks. A stronger dollar usually pushes gold prices lower.

Another major reason is forced liquidation. In just a few hours, gold and silver together erased nearly $2 trillion in market value. Silver alone fell below $65, dropping more than 4%, and wiping out around $150 billion in market cap.

Also, rising oil prices near $112 are increasing inflation concerns. This makes markets expect the Federal Reserve to keep interest rates high until at least 2027. Polymarket traders see a 75% chance of no rate cuts in 2026.

Recently, Donald Trump issued a two-day ultimatum to Iran to reopen the Strait of Hormuz or face potential strikes on power plants. In response, Iran warned it could shut the crucial waterway and target energy and infrastructure facilities if attacked. This increased geopolitical tension, but gold still fell instead of rising.

How Falling Gold Prices Are Impacting the Crypto Market

The crypto market is also feeling the pressure. The total crypto market cap has dropped around 1.6% to $2.34 trillion. Meanwhile, Bitcoin has fallen to near $68,000 after recently touching $76,000.

Other major cryptocurrencies like Ethereum, Solana, XRP, and Dogecoin have also fallen around 3%.

Currently, Bitcoin is not acting like gold. Instead, it behaves more like a liquidity asset, moving with interest rates and money supply. When rates rise and liquidity tightens, both stocks and crypto usually fall.

However, one important long-term trend is that Spot Bitcoin ETFs have attracted $56 billion in less than 2 years, almost matching gold ETF inflows built over 15 years, making Bitcoin ETFs one of the fastest capital accumulation stories in ETF history.

Bitcoin vs Gold Chart Prediction

Crypto trader Blade shared the BTC/Gold chart, showing a repeating historical pattern. According to the chart, Bitcoin usually consolidates against gold for around 14 months, and then enters a strong expansion phase.

The same structure appears to be forming again in 2026, which could mean Bitcoin may soon start outperforming gold in the next phase of the cycle.

If this happen bitcoin will soon retest its all-time-high price of $126K.

FAQs

Why is gold price crashing today?

Gold is falling due to rising US bond yields, a stronger dollar, and forced liquidation, which are reducing demand despite ongoing geopolitical tensions.

Why didn’t geopolitical tensions push gold higher?

Although tensions usually boost gold, strong yields, tight liquidity, and forced selling are currently outweighing its safe-haven demand.

How is the gold crash affecting Bitcoin and crypto?

Gold’s drop signals tighter liquidity, which is also pressuring crypto markets, causing Bitcoin and altcoins to fall alongside risk assets.

Can Bitcoin outperform gold after this drop?

Bitcoin may outperform gold if historical patterns repeat, especially as ETF inflows grow and liquidity conditions improve over time.

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