Market Turns Risk-Averse as Bitcoin Struggles Near $87,500 Support, Gold Gains Momentum

Cryptocurrency traders are adopting a more cautious stance as macroeconomic headwinds intensify. Bitcoin’s inability to sustain levels above $90,000 has proven costly, with the asset slipping to $87,500 amid growing risk-averse behavior across financial markets. The CoinDesk 16 index reflected this pessimism, posting losses throughout the session.

The shift toward defensive positioning extends beyond crypto. Gold prices surged toward the 4,500 yuan per ounce mark, while the U.S. dollar weakened—both classic indicators of rising risk aversion among investors. According to FxPro analyst Alex Kuptsikevich, these concurrent moves signal investors are rotating away from riskier assets in favor of safe havens.

The trigger for this caution stems from anticipated U.S. economic data. The preliminary Q3 GDP estimate is projected to reveal a 3.2% annualized growth rate, representing a deceleration from Q2’s performance but still exceeding the 2021 average. Markets are bracing for potential disappointment if the figure misses expectations, which could amplify the current risk-averse sentiment.

Adding to the pressure, speculation around Japanese central bank intervention has strengthened the yen, creating additional headwinds for carry traders and risk assets globally. The combination of weakening growth signals, hawkish central bank positioning, and flight-to-safety flows suggests near-term volatility may persist for Bitcoin and broader crypto markets until clearer economic clarity emerges.