Bitcoin hits low at $73,000, while gold, silver increase by 5%. Gold rebounds from 2-day collapse, silver jumps 15%. Fed Chair nomination and job report delay adds pressure.

Bitcoin (BTC) has hit new lows at approximately $73,000, as gold and silver rebounded by 5% each on Tuesday. The Precious Metals Recovery Gold experienced its largest single-day gain since November 2008, bouncing back from a two-day decline which caused prices to plummet from over $5,600 to as low as $4,405 on Monday. The movement in silver was even more significant, with a 15% intraday jump following a historic 27% crash on Friday and another 6% decline on Monday. The sell-off was triggered by President Trump nominating Kevin Warsh as the next Fed Chair, a choice perceived as more hawkish than anticipated. Despite expectations for rate cuts, investors are preparing for a more stringent balance-sheet policy. Compounding the situation, the Bureau of Labor Statistics postponed the release of the January jobs report.