Why a selloff in gold and silver is dragging bitcoin down

Bitcoin's decline mirrors the selloff in gold and silver due to a more hawkish Federal Reserve, which has caused investors to reassess their strategies amid a stronger dollar. Historically seen as a hedge against currency devaluation, Bitcoin's recent drop suggests a shift in investor sentiment as they reconsider traditional safe havens like precious metals. This shift underscores a broader market recalibration influenced by monetary policy changes and has significant implications for the cryptocurrency market's relationship with traditional asset classes.