💰 Vietnamese queue from 5 a.m., gold storms $30 trillion, and Bitcoin drops below $106k
The world has gone crazy for gold again. After the price per ounce surpassed $4,300 and the market capitalization of the precious metal broke the $30 trillion mark for the first time in history, jewelry stores in Vietnam began seeing queues forming at dawn. People literally line up from 5 a.m. just to buy at least a bit of gold before “it flies away.”
Local media report that demand has grown so much that some stores now limit sales per person, and resellers are already offering bars at inflated prices on the black market. “We haven’t seen such frenzy even during COVID,” sellers admit.
Gold is the first asset in history to reach a $30 trillion market cap.
For comparison:
- U.S. GDP — about $28 trillion,
- The entire crypto market — just over $4 trillion,
- Apple and Microsoft together are worth less than the gold market.
Why gold is rising:
- Global instability. The escalating trade war between the U.S. and China, the prolonged U.S. government shutdown, and new sanctions threats push investors toward a “safe haven.”
- Institutional buying. China continues buying gold massively, replenishing reserves and reducing dependence on the dollar.
- Retail FOMO. When grandmothers, students, and taxi drivers start buying gold “just in case” — it’s a sign of an overheated market and widespread panic.
What about Bitcoin:
While gold hits new records, BTC fell below $106,000. In the past 24 hours, liquidations exceeded $1 billion, and altcoins, as usual, are dropping even faster.
Key support now stands at $100,000 — both a psychological and technical barrier.
Reasons for the drop remain the same:
- The threat of escalating the U.S.–China trade war,
- Outflows from crypto ETFs,
- Political uncertainty in the U.S. due to the prolonged shutdown.
Looking deeper, gold has strong institutional support (China, funds, central banks), while Bitcoin currently lacks both major buyers and a compelling narrative to inspire the market.
Politics and crypto:
Against this backdrop, President Donald Trump hosted a private dinner with tech and crypto industry leaders, raising $250 million “for renovating the White House ballroom.” Commentators joke: “He sheared the seasoned hamsters so he wouldn’t have to pay himself.”
Joke of the day:
Ripple announced it will join the $1 billion fundraiser to create an XRP reserve. In reality, this just means Ripple will transfer tokens from its own balance to a shell company wallet — and the reserve is ready! Economic magic of the kind: “Moved money from one card to another and felt like an investor.”
⚠️ Analysts warn:
The emergence of gold FOMO, queues at jewelry stores, and public frenzy often signal an upcoming market reversal. When gold becomes a national sport — professionals are already looking for the exit.
Meanwhile, crowds in Ho Chi Minh City and Hanoi are lining up with plastic containers for bars of gold, keeping the metal the main star of financial news.
The irony: while “old good gold” breaks records, “digital gold” — Bitcoin — loses its shine.
Maybe some people are right: sometimes the shiny stuff is more reliable than the hyped one.
You can watch the video footage of the frenzy on our Telegram channel.
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