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Crypto

Silver price jumps on weaker dollar, eyes return to $121 record high

Global silver (XAG) prices have risen by about 3 percent on a weaker dollar and a break above a key technical resistance area, drawing attention to whether they can retake the record-high $121 level last seen in January. Analysts link the rebound to a falling U.S. dollar index and fast short-covering in futures. Technically, silver is around $79, above $78 resistance. A break above $90 could open $99 and then $121, while a drop below $78 risks $60 to $64.

Crypto

Bitcoin spot trading volume hits lowest since October 2023, volatility fears grow on thinner liquidity

Bitcoin spot trading volume has fallen below $8 billion, its lowest since October 2023, even as expectations for further price gains rise. Glassnode data showed daily turnover has slid steadily since topping $25 billion in early February. Glassnode warned low volume can coincide with reduced market depth, making prices more sensitive to large orders. Options markets have not fully priced in higher volatility, with BVIV falling below 42 percent.

General News

Iran hints at circumventing payments in yuan and bitcoin, signs of cracks in petrodollar system

The petrodollar system is being shaken by the fallout from the U.S.-Iran war, with signs of cracks in the dollar-based structure for global oil trade. War risk in the Gulf has raised concern about dollar shortages, and UAE officials have discussed possible financial backstops with the United States. Iran is reported to have imposed yuan-denominated passage fees in the Strait of Hormuz and has also signalled possible use of bitcoin-based fees.