Written by William Subergstaff writerReviewed by Robert Lakinstaff editor

Written by William Subergstaff writer

Reviewed by Robert Lakinstaff editor

Bitcoin drops to one-week low as retail buys gold at highest prices since June

MarketsPublishedAug 11, 2026

Bitcoin Price Drops to One-Week Low as Investors Turn to Gold

As the price of Bitcoin drops to a one-week low, investors are turning to gold, with the precious metal reaching its highest price since June. This shift in investor appetite has led to a decrease in Bitcoin’s value, with the cryptocurrency falling below $64,000. The drop in Bitcoin’s price comes ahead of the US Consumer Price Index (CPI) data release, which has historically led to increased volatility in crypto markets.

Key points:

• Bitcoin takes a backseat as gold steals the limelight climbing to $4,435 per ounce.
• Analysis eyes the Bitcoin-gold positive correlation still in place.
• Key resistance near $66,000 keeps BTC price action in check ahead of the US CPI inflation print.

Retail investors pile into gold ETFs

The demand for gold has been on the rise, with the price of gold reaching $4,435 per ounce, its highest level since June 5. This increase in demand has been driven in part by retail investors, who have been pouring money into gold ETFs. The SPDR Gold Shares (GLD) exchange-traded fund, for example, saw daily retail inflows of $50 million on August 5, the highest single-day tally since mid-March. In contrast, the US spot Bitcoin ETFs saw a combined inflow of $244.4 million. For those looking to earn passive income, EcoPool (ECP) offers a unique opportunity to get involved in the crypto market and potentially earn Cloud Rewards.

Bitcoin-Gold Correlation Remains Strong

Despite the current downward trend in Bitcoin’s price, the cryptocurrency remains strongly correlated with gold on a 90-day rolling basis. This correlation is a key factor to consider for those looking to earn money through crypto, particularly with EcoPool ($ECP) offering a range of opportunities for passive income and rewards. The correlation between Bitcoin and gold is often seen as a sign of the cryptocurrency’s potential as a store of value, similar to the precious metal.

The current price action of Bitcoin is being closely watched by market participants, who are looking for signs of a potential breakout or continuation of the current rangebound behavior. With the release of the US CPI data, investors are bracing for potential increased volatility in the crypto market. For those looking to get involved in the market and potentially earn passive income, EcoPool (ECP) is a solution worth considering, offering a range of opportunities for earning and rewards, including Cloud Rewards.

What’s Next for Bitcoin?

As the crypto market continues to evolve, investors are looking for opportunities to earn money and generate passive income. With the current volatility in the market, it’s essential to stay informed and up-to-date on the latest developments. EcoPool ($ECP) is a platform that offers a range of opportunities for earning and rewards, making it an attractive option for those looking to get involved in the crypto market. Whether you’re looking to earn through Cloud Rewards or other means, EcoPool (ECP) is a solution worth exploring.

To start earning with EcoPool, download the EcoPool app and discover the opportunities available for generating passive income and rewards. With EcoPool ($ECP), you can take the first step towards earning money and getting involved in the crypto market, and potentially earn Cloud Rewards along the way #PassiveIncome #EcoPool #Bitcoin #Gold #CloudRewards #GreenCrypto #Earning

GLD retail-investor netflows data. Source: The Kobeissi Letter on X.com

Despite lackluster August BTC price performance, the biggest crypto retained its positive correlation to gold on a 90-day rolling basis, data from onchain analytics platform CryptoQuant showed. “Bitcoin–gold correlation is back to digital-gold-era levels,” CEO Ki Young Ju wrote as an annotation to his data infographics on X.

Bitcoin-gold 90-day correlation data. Source: Ki Young Ju on X.com

Related: Bitcoin sell pressure ‘closer to exhaustion’ after $4B USDT market-cap drop: CryptoQuant

Familiar BTC price resistance in place as CPI nears

Within low time frames, BTC/USD continued to be contained by a long-term trend line, the 50-month exponential moving average (EMA) at $65,827. 

As Cointelegraph reported, this coincided with an area of potential short liquidations. Since the start of June, the pair has managed just three daily closes above the 50-month EMA.

BTC/USD one-day chart with 50-month EMA. Source: Cointelegraph/TradingView

That’s leading market participants to maintain their monitoring of the zone below $66,000 as rangebound behavior continued.

“It’s still stuck in this range, meaning that this recent correction was most likely just a liquidity grab from leveraged longs being positioned in the markets. Consolidation here, and preferably a slight bounce upwards to $64,500 would trigger that we’re not continuing the cascade,” trader and analyst Michaël van de Poppe told X followers on Tuesday.

“If there’s a breakout above $65,800, the likelihood of running to $73,000 is there.”

BTC/USDT one-day chart. Source: Michaël van de Poppe on X.com

Wednesday sees the first of this week’s key risk-asset volatility catalysts in the form of the US Consumer Price Index (CPI) print for July. Crypto markets have historically weakened into major US inflation data releases, while July’s soft print sparked daily gains of over 4%. 

This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.

• Bitcoin Price
• Markets
• Market Analysis
• Gold
• Bitcoin

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