Bitcoin Surges, Gold Hits ATH; Berachain Launches, BERA Drops

Bitcoin Dominance Rises as Gold Hits Another ATH and Berachain Launches

Bitcoin's dominance in the cryptocurrency market has been on the rise, reaching a high of 45.2% on Thursday, February 6, 2025. This increase comes as the broader cryptocurrency market has been relatively stable, with major coins like Ethereum and Ripple showing minimal price fluctuations.

Meanwhile, gold prices have continued their upward trend, hitting another all-time high of $2,050 per ounce. The precious metal has been benefiting from geopolitical tensions and inflationary pressures, which have driven investors to seek safe-haven assets.

In other news, Berachain, a layer-1 blockchain project, launched its mainnet and airdropped its native token, BERA, to the community. The airdrop, valued at over $1.1 billion at its peak, was one of the largest in recent history. Trading for BERA is now live on major centralized exchanges, including Binance, OKX, and Coinbase.

The Berachain network, which spun out of an Ethereum NFT project in 2021, raised over $100 million to bring its chain and novel consensus mechanism to fruition. The project's co-founder, Smokey the Bera, expressed excitement about the launch and the team's commitment to supporting the network's growth.

Berachain's airdrop was one of the most anticipated events of 2025, following a positive year of development throughout 2024. However, the post-airdrop price performance of BERA has been mixed, with the token surging to a peak of $14.83 before falling approximately 49% to $8.00 at the time of writing.

Technical indicators suggest weakening momentum for BERA, with the Relative Strength Index (RSI) dropping from overbought levels and the Chaikin Money Flow (CMF) turning negative. This indicates a shift in market sentiment, with selling pressure increasing and buying momentum fading. If this trend continues, BERA could face further downward pressure unless buyers step in to absorb the selling and stabilize the price.

Recent airdrops like HYPE and PENGU have also struggled post-launch, highlighting a broader trend