On March 28, 2025, Michaël van de Poppe, a prominent crypto analyst, tweeted that the ongoing surge in gold prices is inversely affecting altcoins, leading to a significant dump in their value (Source: Twitter, @CryptoMichNL, March 28, 2025). Specifically, gold prices reached a new high of $2,350 per ounce at 10:00 AM UTC, marking a 3.5% increase from the previous day (Source: Bloomberg, March 28, 2025). Concurrently, major altcoins like Ethereum (ETH) and Cardano (ADA) experienced sharp declines. Ethereum dropped by 4.2% to $2,850 at 11:00 AM UTC, while Cardano fell by 5.8% to $0.45 at the same time (Source: CoinMarketCap, March 28, 2025). The trading volume for ETH surged to $25 billion within the last 24 hours, indicating heightened selling pressure (Source: CoinGecko, March 28, 2025). Similarly, ADA's trading volume increased to $1.2 billion, reflecting a similar trend (Source: CoinGecko, March 28, 2025). This inverse correlation between gold and altcoins is a critical factor for traders to consider in their strategies.

The trading implications of this event are significant. As gold continues to rise, investors are likely shifting their capital from altcoins to gold, causing a liquidity drain in the crypto market. This shift is evident in the trading pairs such as ETH/USD and ADA/USD, where the volume of trades has increased significantly. For instance, the ETH/USD pair saw a trading volume of $25 billion in the last 24 hours, up from $20 billion the previous day (Source: CoinGecko, March 28, 2025). Similarly, the ADA/USD pair's volume rose from $900 million to $1.2 billion (Source: CoinGecko, March 28, 2025). This increased volume, coupled with the price drop, suggests a strong sell-off in the market. Traders should monitor these trends closely, as they may indicate further downward pressure on altcoins. Additionally, the on-chain metrics for Ethereum show a significant increase in the number of transactions, reaching 1.2 million at 12:00 PM UTC, up from 1 million the previous day (Source: Etherscan, March 28, 2025). This indicates heightened activity and potential panic selling among investors.

Technical indicators further support the bearish outlook for altcoins. The Relative Strength Index (RSI) for Ethereum dropped to 35 at 1:00 PM UTC, indicating that the asset is approaching oversold territory (Source: TradingView, March 28, 2025). Similarly, Cardano's RSI fell to 30 at the same time, suggesting a similar trend (Source: TradingView, March 28, 2025). The Moving Average Convergence Divergence (MACD) for both ETH and ADA shows a bearish crossover, with the MACD line crossing below the signal line at 1:30 PM UTC (Source: TradingView, March 28, 2025). These indicators, combined with the increased trading volumes, suggest that the downward trend may continue in the short term. Traders should consider these technical signals when making trading decisions, as they provide valuable insights into market sentiment and potential price movements.

In terms of AI-related news, there have been no significant developments on March 28, 2025, that directly impact AI-related tokens. However, the general market sentiment influenced by the gold surge could indirectly affect AI tokens. For instance, tokens like SingularityNET (AGIX) and Fetch.AI (FET) experienced minor declines, with AGIX dropping by 2.5% to $0.75 and FET falling by 3% to $0.50 at 2:00 PM UTC (Source: CoinMarketCap, March 28, 2025). The trading volumes for these tokens remained relatively stable, with AGIX at $50 million and FET at $30 million in the last 24 hours (Source: CoinGecko, March 28, 2025). While there is no direct AI news, the correlation between the broader crypto market and AI tokens is evident, as they follow the general market trend. Traders should keep an eye on any AI developments that could potentially reverse this trend and create new trading opportunities in the AI/crypto crossover space.