Bitcoin rises sharply as gold experiences largest drop in three years

Bitcoin prices are rising sharply, while gold has experienced its largest drop in over three years. The strong U.S. dollar following the recent election is contributing to gold's decline. Political uncertainty that previously supported gold prices has diminished after Trump's election victory. A Republican majority in Congress is anticipated, which may facilitate Trump's policy initiatives. Expectations for future Federal Reserve rate cuts, which typically support gold, have been reduced. This shift in outlook is impacting gold's market performance.