Earlier this Friday, Bitcoin, the leading cryptocurrency by market cap, surged to an intraday high of $81,025.
Meanwhile, the U.S. dollar index (DXY) plunged to 99.705, the lowest level since April. The widely tracked index shows the strength of the greenback against a slew of foreign currencies.
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Meanwhile, the price of gold has hit a new record high of $3,220, extending its record-breaking run.
There is some speculation that Asian investors are currently selling dollar assets and buying gold.
The 10-year Treasury yield is on the verge of breaking 4.5%, causing more investor angst.
As noted by analyst Pietro Vintani, the combination of surging rates and the collapsing currency is typical during crises in emerging markets.
