Gold drops 3.74% after March 18 PPI; traders watch if Bitcoin faces spillover pressure

After February's PPI print released on March 18 came in hotter than expected, gold fell 3.74% and broke the $5k support level. The move is being linked to a firmer U.S. dollar and more attractive Treasury yields, while Bitcoin has remained rangebound around $70k with limited inflows. With funding still negative and the Coinbase Premium Index declining, traders are debating whether crypto could eventually track gold's risk-off shift.