Bitcoin remains under pressure below the $112,000 mark as it struggles to gain momentum in the face of a surging gold market. Despite an early rally on Thursday, Bitcoin's price retreated to around $111,800, marking a 0.7% decline over the past 24 hours. In contrast, gold's price climbed nearly 1% to just below $3,500 per ounce, nearing its record high of $3,534. The disparity in performance is attributed to macroeconomic conditions favoring gold, such as lower interest rates and a weaker U.S. dollar, which have not similarly boosted Bitcoin. Ethereum (ETH) and XRP also faced declines, dipping 2.1% and 1.4%, respectively. Surprisingly, Solana (SOL) outperformed with a 3.1% rise. As September approaches, potential Federal Reserve rate cuts are anticipated, signaling changing dynamics in both the cryptocurrency and traditional markets.

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