Bitcoin Tests Support as Gold Rally Falls Flat, Falls to FOMC Lows

XAU/USD: bearish near term, but confirmation matters. Rising Treasury yields and increased expectations of Fed rate hikes raise the opportunity cost of holding non-yielding gold and can support the dollar, weighing on bullion. The article describes lower highs and a retest of post-FOMC lows; a decisive break of support would strengthen the downside case, while a hold could leave the move as a pullback rather than a broader reversal.

BTC/USD: relatively resilient, not immune. Bitcoin’s recent outperformance versus gold suggests stronger asset-specific demand, but it is also testing prior resistance turned support. Holding that area would preserve the bullish relative picture; losing it could expose BTC to a deeper correction, especially if yields keep rising and financial conditions tighten.

The main catalyst is whether higher yields and hawkish Fed expectations persist. Traders should monitor Treasury yields, rate-hike pricing, the dollar, and whether gold support and Bitcoin’s retest levels hold. The article’s technical picture is short-term; a shift in rate expectations could quickly alter it.