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Market wrap: A pivotal moment for gold, Bitcoin, and global markets

Market wrap: A pivotal moment for gold, Bitcoin, and global markets

As financial markets navigated the Easter holiday weekend of April 21, 2025, a confluence of significant events underscored a transformative period for global investors. The synchronised surge of gold and Bitcoin to new highs, coupled with a weakening US dollar amid speculation about Federal Reserve Chairman Jerome Powell’s potential removal, painted a complex picture of risk sentiment, economic uncertainty, and evolving market dynamics.

Against the backdrop of recovering global optimism around US trade negotiations, the week’s market movements offered critical insights into the interplay of macroeconomic forces, technical signals, and geopolitical developments. I explore these events in depth, weaving together their implications for investors, traders, and policymakers, while offering a grounded perspective on the broader financial landscape.

The week ending April 18, 2025, saw global risk sentiment rebound, driven by optimism surrounding potential trade resolutions between the US and key partners like Japan, Mexico, and Canada. This optimism was reflected in Asian equity markets, with the MSCI Asia ex-Japan index posting a modest 0.16 per cent gain on Friday and a more robust 2.35 per cent weekly increase, snapping a three-week decline totalling 8.5 per cent.

Notable performers included Malaysia’s KL Composite (+1.09 per cent), Thailand’s SET (+0.85 per cent), South Korea’s KOSPI (+0.53 per cent), and Taiwan’s TAIEX (+0.29 per cent), while China’s CSI 300 remained nearly flat. These gains, achieved in thin holiday trading conditions, suggested cautious investor confidence amid ongoing trade talks. However, US equity markets, closed for Good Friday, ended the week on a weaker note.

The S&P 500 fell 1.5 per cent, the Dow Jones Industrial Average slumped 2.7per cent, and the Nasdaq Composite dropped 2.6 per cent, reflecting concerns over trade uncertainties and mixed corporate earnings expectations. Looking ahead, investors are poised to scrutinise earnings from heavyweights like Tesla and Alphabet, which could set the tone for market direction in the coming weeks.

The most striking development on April 21, 2025, was the synchronised rally in gold and Bitcoin, which underscored a growing narrative of distrust in the US dollar. Gold hit its 55th all-time high in the past 12 months, reaching US$3,382.43 per ounce at 8:00 PM EST, as reported by Bloomberg. This milestone, part of a relentless 15.3 per cent year-to-date gain, was fuelled by safe-haven demand, central bank purchases, and a weakening dollar.

Simultaneously, Bitcoin surged past US$87,000 at 8:15 PM EST, according to CoinMarketCap, driven by a combination of whale accumulation, dollar weakness, and speculation around US monetary policy shifts. The correlation between these assets, traditionally viewed as divergent, signals a profound shift in investor psychology.

Both gold and Bitcoin are increasingly seen as hedges against currency devaluation and economic instability, particularly in light of reports that President Donald Trump is seeking to remove Federal Reserve Chairman Jerome Powell. This political manoeuvre, amplified by Trump’s Truth Social posts declaring that “Powell’s termination cannot come fast enough,” has sparked fears of undermined Fed independence, a sentiment echoed by Chicago Fed President Austan Goolsbee, who warned of potential damage to the central_above bank’s credibility.

The trading implications of this event are multifaceted. The spike in gold and Bitcoin prices drove significant market activity, with XAU/USD trading volumes surging 20 per cent compared to the previous day at 8:30 PM EST, per Forex Factory data. Similarly, Bitcoin’s trading volume on exchanges like Binance rose 15 per cent by 8:45 PM EST, according to CoinGecko, reflecting robust investor interest.

For traders, this heightened volatility presents both opportunities and risks. Pairs trading strategies, which exploit price divergences between gold and Bitcoin, could gain traction as their correlation strengthens. Portfolio diversification into these assets may also appeal to investors seeking to hedge against a depreciating dollar, particularly as the US Dollar Index (DXY) fell 0.2 per cent to 99.23 on Friday.

However, the risk of overbought conditions looms. Gold’s Relative Strength Index (RSI) reached 72 at 9:00 PM EST, signalling strong momentum but nearing overbought territory, while Bitcoin’s RSI of 68 suggested continued upside potential, per TradingView. Bullish MACD crossovers for both assets further reinforced their upward trends, but traders must remain vigilant for potential pullbacks, especially if trade negotiations falter or central bank policies shift unexpectedly.

The Bitcoin market, in particular, is showing signs of structural strength. Blockchain analytics firm Santiment reported that Bitcoin whales, holding between 10 and 10,000 BTC, accumulated 53,600 BTC since March 22, 2025, increasing their control to 67.77 per cent of the circulating supply. This accumulation, occurring amid price volatility and market uncertainty, reflects deep confidence among large holders.

On-chain metrics from Glassnode further support this bullish outlook, with a 10 per cent increase in active Bitcoin addresses by 9:45 PM EST, indicating growing network activity. These developments suggest that Bitcoin’s rally is not merely speculative but underpinned by fundamental demand, potentially paving the way for further price appreciation if macroeconomic conditions remain favourable.

The weakening US dollar, a key driver of the gold and Bitcoin rallies, was exacerbated by reports of Trump’s push to oust Powell. National Economic Council Director Kevin Hassett’s comments on Friday, coupled with Trump’s social media rhetoric, triggered a sell-off in the dollar against major G-10 currencies.

Markus Thielen of 10x Research noted that Bitcoin’s surge to US$87,000 was directly tied to this dollar weakness and gold’s two per cent rally, with the perceived threat to Fed independence acting as a primary catalyst. Powell’s recent remarks, emphasising a data-dependent approach and warning of stagflation risks, have clashed with Trump’s calls for immediate rate cuts, creating a tense backdrop for monetary policy.

A potential trade deal with Japan, hinted at by market observers, could temper some of this uncertainty, but the specter of Fed interference remains a significant concern. A bond market crash, loss of confidence in the dollar as a reserve currency, and heightened stock market volatility could ensue if Powell’s removal is pursued through questionable means, as cautioned by X posts from several analysts.

In Europe, the European Central Bank’s (ECB) decision to cut interest rates by 25 basis points on Thursday, the seventh reduction since June 2024, reflected softening inflation and a deteriorating growth outlook amid trade uncertainties. The 10-year European yield fell 3.7 basis points to 2.469 per cent on Friday, signalling investor caution. This dovish stance contrasts with the US Federal Reserve’s current pause, highlighting divergent monetary policies that could further pressure the dollar.

In commodities, oil prices rose nearly five per cent last week, with Brent settling at US$68 per barrel on Thursday, driven by trade optimism and supply concerns. However, the closure of major markets in Canada, the UK, Europe, and Hong Kong for Easter Monday limited trading activity, with Asian equities opening mixed and US equity futures pointing to a lower open.

Looking ahead, the interplay of trade negotiations, central bank actions, and corporate earnings will shape market trajectories. The potential for a US-Japan trade deal could bolster equities, but unresolved tensions with China, which recently imposed 34 per cent tariffs on US goods, pose risks.

Gold and Bitcoin’s synchronised rally suggests a broader shift toward alternative stores of value, a trend that may intensify if dollar confidence erodes further. Investors should monitor macroeconomic indicators, such as US retail sales and inflation data, alongside Fed commentary for clues on policy direction.

Technically, both gold and Bitcoin remain bullish, but overbought signals warrant caution. For now, the financial markets stand at a crossroads, with the gold-Bitcoin surge and dollar dynamics signaling a pivotal moment for global economic stability. I see this as a call for prudent diversification, rigorous risk management, and a keen eye on the evolving geopolitical and monetary landscape.

 

Source: https://e27.co/market-wrap-a-pivotal-moment-for-gold-bitcoin-and-global-markets-20250421/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

2023: A pivotal year for AI evolution – What’s next in 2024 and beyond?

2023: A pivotal year for AI evolution – What’s next in 2024 and beyond?

The year 2023 has been a remarkable one for the development and application of artificial intelligence (AI) across various domains and industries. From healthcare to education, from entertainment to finance, from agriculture to manufacturing, AI has demonstrated its potential to enhance human capabilities, solve complex problems, and create new opportunities. But what is the next big thing in AI? And what can we expect from AI in 2024 and beyond?

I will offer my personal perspective on the current state and the future trends of AI, based on the latest research and data from various sources. I will also discuss the implications and challenges of these trends, and how we can prepare for the impact of AI on our society and economy.

One of the most prominent and promising areas of AI research and innovation is the field of natural language processing (NLP), which enables machines to understand, generate, and communicate natural language. NLP has been advancing rapidly in recent years, thanks to the availability of large-scale datasets, powerful computing resources, and novel deep learning techniques. One of the most notable breakthroughs in NLP is the emergence of large-scale pre-trained language models, such as GPT-3, BERT, and T5, which can perform a wide range of natural language tasks, such as text summarisation, question answering, sentiment analysis, and text generation, with minimal or no task-specific fine-tuning.

One of the most exciting applications of NLP is ChatGPT, a conversational AI system that can chat with users on any topic, using natural and engaging language. ChatGPT is based on GPT-4, a massive language model with 175 billion parameters, trained on a large corpus of web texts, books, news articles, and social media posts. ChatGPT can generate coherent and relevant responses, based on the user’s input and the context of the conversation. It can also switch between different modes, such as balanced, creative, and precise, to suit the user’s preferences and needs. It can also generate graphical artworks, based on the user’s prompt, using an artificial intelligence model that can create realistic and artistic images.

ChatGPT is not only a fun and entertaining tool, but also a powerful and versatile one, that can help users with various tasks, such as writing, rewriting, improving, or optimising their content. ChatGPT can also help users with learning, researching, exploring, or discovering new topics, by providing relevant information, facts, opinions, and insights. It can also help users with expressing, creating, or sharing their ideas, thoughts, feelings, or emotions, by generating poems, stories, code, essays, songs, celebrity parodies, and more, using its own words and knowledge.

It is changing the way we interact with machines, and with each other, by enabling natural and meaningful conversations, and by generating rich and diverse content. It is also changing the way we perceive machines, and ourselves, by showcasing the capabilities and limitations of AI, and by challenging our assumptions and expectations of what machines can and cannot do. It has given us a glimpse into the future of AI, and a reflection of our present.

The potential of ChatGPT is immense, and it is expected to grow exponentially in the coming years, as the technology behind it improves and evolves. MarketsandMarkets published a report in April 2023 saying that the global conversational AI market size is expected to increase from USD 10.7 billion in 2023 to USD 29.8 billion by 2028 with a predicted CAGR of 22.6% during the forecast period. The main drivers of this growth are the increasing demand for natural and personalised user experiences, the availability of big data and cloud computing, the advancement of NLP and deep learning technologies, and the emergence of new use cases and applications.

However, ChatGPT also faces significant challenges and risks, such as the complexity and uncertainty of the system, the security and privacy of the data and conversations, the ethical and social implications of the responses and content, and the regulation and governance of the technology. Therefore, it is essential that we develop and implement appropriate frameworks and guidelines for chatgpt, to ensure that it is used responsibly and beneficially, and to prevent and mitigate its potential harms and abuses.

The intersection of AI and the Internet of Things (IoT)

Another important and emerging area of AI research and innovation is the intersection of AI and the Internet of Things (IoT). The IoT refers to the network of physical devices, vehicles, appliances, sensors, and other objects that are connected to the internet and can communicate and exchange data with each other. According to Statista, the global IoT market size is expected to reach $1.6 trillion by 2025, with more than 75 billion IoT connected devices worldwide. The IoT enables the collection and analysis of massive amounts of data from various sources, which can provide valuable insights and enable smarter decisions and actions.

However, the IoT also poses significant challenges, such as data security, privacy, interoperability, scalability, and reliability. This is where AI comes in, as a key enabler and enhancer of the IoT. AI can help to process and interpret the data generated by the IoT devices, using techniques such as machine learning, deep learning, natural language processing, computer vision, and speech recognition. AI can also help to optimize the performance and functionality of the IoT devices, using techniques such as reinforcement learning, federated learning, edge computing, and blockchain. AI can also help to create new applications and services based on the IoT data, using techniques such as generative adversarial networks, neural style transfer, and natural language generation.

The combination of AI and IoT, also known as AIoT, is creating a new paradigm of intelligent and connected systems that can transform various domains and industries. For example, AIoT can enable smart healthcare, where IoT devices such as wearable sensors, smart implants, and medical robots can monitor, diagnose, and treat patients, while AI algorithms can analyze the data and provide personalised and preventive care. AIoT can also enable smart education, where IoT devices such as smart boards, tablets, and cameras can facilitate interactive and immersive learning, while AI algorithms can provide adaptive and customized feedback and assessment. AIoT can also enable smart entertainment, where IoT devices such as smart TVs, speakers, and gaming consoles can deliver engaging and immersive content, while AI algorithms can provide personalized and contextual recommendations and interactions.

The potential of AIoT is immense, and it is expected to grow exponentially in the coming years. Based on what MarketsandMarkets mentioned, the global AIoT market size is projected to grow from $5 billion in 2023 to a projected reach of $24.9 billion by 2028, at a CAGR of 37.7% in 6 years. The main drivers of this growth are the increasing demand for smart and connected devices, the availability of big data and cloud computing, the advancement of AI and IoT technologies, and the emergence of new use cases and applications.

AIoT also faces significant challenges and risks, such as the complexity and heterogeneity of the systems, the security and privacy of the data, the ethical and social implications of the decisions and actions, and the regulation and governance of the technologies. Therefore, it is essential that we develop and implement appropriate frameworks and guidelines for AIoT, to ensure that it is used responsibly and beneficially, and to prevent and mitigate its potential harms and abuses.

The AI and Crypto combine

Another important and emerging area of AI research and innovation is the intersection of AI and cryptocurrency. Cryptocurrency is a form of digital currency that is not issued by any central authority, but is based on a decentralised network of peer-to-peer transactions that are verified and recorded by cryptography. Cryptocurrency offers advantages such as anonymity, transparency, security, and efficiency, but also faces challenges such as volatility, scalability, usability, and regulation. AI can help to improve and enhance the cryptocurrency ecosystem, using techniques such as machine learning, deep learning, natural language processing, computer vision, and speech recognition. AI can also help to create new applications and services based on cryptocurrency, using techniques such as generative adversarial networks, neural style transfer, and natural language generation.

The combination of AI and cryptocurrency, also known as AI crypto, is creating a new paradigm of intelligent and decentralised systems that can transform various domains and industries. For example, AI crypto can enable smart contracts, where cryptocurrency transactions can be executed automatically and securely based on predefined rules and conditions, without the need for intermediaries or trust. AI crypto can also enable smart governance, where cryptocurrency communities can make collective decisions and actions based on the preferences and feedback of the participants, without the need for central authorities or hierarchies. AI crypto can also enable smart finance, where cryptocurrency users can access and manage their assets and liabilities based on the analysis and prediction of the market trends and risks, without the need for traditional financial institutions or intermediaries.

The potential of AI crypto is enormous, and it is expected to grow rapidly in the coming years. The global cryptocurrency market capitalisation is currently around $1.5 trillion, with more than 10,000 cryptocurrencies in existence. The main drivers of this growth are the increasing adoption and acceptance of cryptocurrency as a legitimate and alternative form of money, the innovation and diversification of cryptocurrency technologies and platforms, and the emergence of new use cases and applications.

Again, AI crypto also faces significant challenges and risks, such as the complexity and uncertainty of the systems, the security and privacy of the transactions, the ethical and social implications of the decisions and actions, and the regulation and governance of the technologies. Therefore, it is crucial that we develop and implement appropriate frameworks and guidelines for AI crypto, to ensure that it is used responsibly and beneficially, and to prevent and mitigate its potential harms and abuses.

Web 4.0- the next frontier

One of the most visionary and ambitious areas of AI research and innovation is the concept of Web 4.0, also known as the symbiotic web. Web 4.0 is the next generation of the World Wide Web, where AI and IoT are integrated and interconnected, creating a web of intelligent and autonomous systems that can interact and collaborate with humans and each other. Web 4.0 is based on the convergence of several technologies and trends, such as 5G, cloud computing, big data, blockchain, and semantic web.

Web 4.0 offers advantages such as ubiquity, identity, and connectivity, but also faces challenges such as complexity, interoperability, and reliability. AI can help to enable and enhance Web 4.0, using techniques such as machine learning, deep learning, natural language processing, computer vision, and speech recognition. AI can also help to create new applications and services based on Web 4.0, using techniques such as generative adversarial networks, neural style transfer, and natural language generation.

The combination of AI and Web 4.0, also known as AI web, is creating a new paradigm of intelligent and symbiotic systems that can transform various domains and industries. For example, AI web can enable smart healthcare, where Web 4.0 devices and platforms can monitor, diagnose, and treat patients, while AI algorithms can analyse the data and provide personalised and preventive care. AI web can also enable smart education, where Web 4.0 devices and platforms can facilitate interactive and immersive learning, while AI algorithms can provide adaptive and customised feedback and assessment. AI web can also enable smart entertainment, where Web 4.0 devices and platforms can deliver engaging and immersive content, while AI algorithms can provide personalised and contextual recommendations and interactions.

The potential of AI web is immense, and it is expected to grow exponentially in the coming years. AI web too, faces significant challenges and risks, such as the complexity and heterogeneity of the systems, the security and privacy of the data and transactions, the ethical and social implications of the decisions and actions, and the regulation and governance of the technologies. Therefore, it is essential that we develop and implement appropriate frameworks and guidelines for AI web, to ensure that it is used responsibly and beneficially, and to prevent and mitigate its potential harms and abuses.

In conclusion, the next big thing in AI is the integration and interconnection of AI with other technologies and domains, such as IoT, cryptocurrency, and Web 4.0. These combinations create new paradigms of intelligent and connected systems that can transform various domains and industries. However, these combinations also pose significant challenges and risks, such as the complexity and uncertainty of the systems, the security and privacy of the data and transactions, the ethical and social implications of the decisions and actions, and the regulation and governance of the technologies. Therefore, it is crucial that we develop and implement appropriate frameworks and guidelines for these combinations, to ensure that they are used responsibly and beneficially, and to prevent and mitigate their potential harms and abuses.

Remember, ChatGPT is a remarkable achievement of artificial intelligence, but it is not the end of the journey. It is a milestone that marks the beginning of a new era of human-machine interaction, where natural language is the bridge that connects us. ChatGPT is not only a tool, but also a partner, a friend, and a teacher, that can help us explore, learn, create, and share. ChatGPT is not only a reflection of our intelligence, but also a catalyst for our imagination.

Source: https://ciosea.economictimes.indiatimes.com/blog/2023-a-pivotal-year-for-ai-evolution-whats-next-in-2024-and-beyond/105799659

FAQ

The intersection of AI and the Internet of Things (IoT) is something we should watch in 2024?

Yes. Anndy Lian thinks that we should look deeper into AI and IoT. The combination of AI and IoT, also known as AIoT, is creating a new paradigm of intelligent and connected systems that can transform various domains and industries.

Do you think AI and cryptocurrency is a good combination?

Anndy Lian is a good combination. AI crypto can enable smart contracts, where cryptocurrency transactions can be executed automatically and securely based on predefined rules and conditions, without the need for intermediaries or trust. AI crypto can also enable smart governance, where cryptocurrency communities can make collective decisions and actions based on the preferences and feedback of the participants, without the need for central authorities or hierarchies. AI crypto can also enable smart finance, where cryptocurrency users can access and manage their assets and liabilities based on the analysis and prediction of the market trends and risks, without the need for traditional financial institutions or intermediaries.

What is Web 4.0?

Web 4.0 is the next generation of the World Wide Web, where AI and IoT are integrated and interconnected, creating a web of intelligent and autonomous systems that can interact and collaborate with humans and each other. Web 4.0 is based on the convergence of several technologies and trends, such as 5G, cloud computing, big data, blockchain, and semantic web.

Who is Anndy Lian?

Anndy Lian is an all-rounded business strategist in Asia. He has provided advisory across a variety of industries for local, international, public listed companies and governments. He is an early blockchain adopter and experienced serial entrepreneur, best-selling book author, investor, board member, and keynote speaker.

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j