I'd expect there are 2 main reasons. The first is that investors requiring cash to cover margin calls for all the other markets that are tanking. This is likel

I'd expect there are 2 main reasons. The first is that investors requiring cash to cover margin calls for all the other markets that are tanking. This is likely to be a reason for the big drop in gold prices yesterday. The second is a general flight to quality as evinced by the drops in Treasury yields in US, UK and Germany. Or it could be wibble. It's crypto so we'll never actually know.