Gold, a traditional store-of-value asset, rose to $1,820 per ounce, the highest level since Feb.
As such, some crypto market participants became more cautious in late February and early March 2021, after a brief spike in real yields to -0.57%.
Since mid-March, the yield has dropped by 30 basis points, marking a steady increase in inflation-adjusted loss for bond investors.
In the crypto markets, investor focus has shifted from bitcoin to ether and Ethereum-related projects like decentralized finance and layer-2 scaling.
Gold picked up a strong bid last June and surged to new record highs above $2,000 in August.
History may well repeat itself this time, as bitcoin funds are again becoming popular.
“The bad news is global tapering has begun,” analysts at Bank of America said, adding that the process could pick up the pace in the third quarter, according to ForexLive.
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