Gold price is less than 2 percent from its all-time high amid volatile geopolitical tensions.
On-chain data shows that the Bitcoin network has experienced a renewed demand from institutional investors.
Gold (XAU) price gained nearly 3 percent in the past 24 hours to trade at about $3,424 per ounce on Tuesday, May 6, during the mid-Northern American session. The top-tier precious metal extended its gains on Tuesday as India launched a military offensive attack against Pakistan following a recent terror attack.
The demand for Gold by global central banks continued to increase as the U.S. dollar weakened against major currencies led by the Pound, Japanese yen, and the EUR. Furthermore, the ongoing global trade negotiations have heavily impacted the equity markets, led by the United States stocks.
Gold Price Eyes Parabolic Rally
From a technical analysis standpoint, Gold price is on the verge of experiencing a parabolic rally potentially akin to the 1979 rally. If the global demand for Gold continues in the coming months, the precious metal will likely rally beyond $4k per OZ before the end of 2025z
Expected Impact on Bitcoin Price
The notable rally for Gold price elated Bitcoin bulls, as the flagship coin surged nearly 1 percent to trade at about $94.6k at the time of this writing. Ahead of Wednesday’s Federal Funds Rate and the FOMC statement, Bitcoin price has experienced heightened volatility.
$500K+ $BTC this bull market is more realistic than it sounds.
The current total market cap for GOLD is $22.6 Trillion.
Ultimately, the cash rotation from gold to Bitcoin by institutional investors will catalyze the much anticipated parabolic rally for BTC and the wider crypto market in the near future. Moreover, institutional investors – led by Strategy, and BlackRock – have relentlessly accumulated Bitcoin in the recent past.
Additionally, Bitcoin Futures Open Interest (OI) has gradually increased in the past few weeks to about $63 billion at the time of this writing.
Bitget exchange, in collaboration with blockchain security firms SlowMist and Elliptic, has exposed the terrifying anatomy of the most advanced crypto scams in recent times.
These findings come amid rising security incidents, ranging from high-profile attacks to government involvement in crypto laundering attacks.
AI Deepfakes, Social Tactics Behind 2025 Crypto Scam Rise: Bitget Report
The report cites AI deepfakes, weaponized psychology, and social engineering. It lays bare how bad actors use synthetic videos, virtual identities, and fake crypto meetings to deceive users and dismantle trust in the Web3 ecosystem.
A key finding in the report is that in 2025, scams will go beyond stealing user keys to hijack victims’ realities. From celebrity deepfakes to Trojan job offers and fake Zoom meetings, the latest scams blend high-tech deception with low-tech manipulation.
Bitget’s report categorizes the most dangerous threats under three pillars: deepfake impersonation, social engineering scams, and advanced Ponzi schemes. The most insidious are deepfakes.
AI Deepfakes Blur the Line Between Real and Fake
In early 2025, Hong Kong police arrested 31 individuals in a deepfake scam syndicate. Perpetrators stole $34 million by impersonating crypto executives during fake investment calls. This was just one of 87 similar operations dismantled across Asia in Q1 alone.
“…attackers using AI synthesis tools to fabricate audio and video likenesses of well-known project founders, exchange executives, or community KOLs in order to mislead users. These fabricated materials are often highly realistic,” read an excerpt in the report shared with BeInCrypto.
With tools like Synthesia, ElevenLabs, and HeyGen, attackers fabricate dynamic likenesses of public figures. Named victims include Elon Musk and Singapore’s Prime Minister. Bad actors create convincing videos to promote fraudulent platforms.
These videos are often distributed on social channels like Telegram, X (Twitter), and YouTube Shorts. Based on the report, they turn off comments to maintain a façade of legitimacy.
One case involved deepfake clips of Singapore Minister Lee Hsien Loong endorsing a “government-backed crypto initiative.” The campaign reportedly ensnared thousands before it was flagged.
Zoom, but Make It a Scam
Another disturbing tactic involves impersonating Zoom. Victims receive fake meeting invites from “crypto executives,” prompting them to download Trojan-laced software.
During the meeting, scammers use deepfake avatars and fabricated credentials to trick users into sharing wallet access or approving malicious transactions.
“The people luring you to download fake Zoom for meetings are extremely persuasive, making you feel it’s unlikely to be fake. A key point is that the participants you see during the meeting are actually displayed using deepfake videos… Don’t doubt it, in the AI era, video and voice forgery can be extremely realistic…,” SlowMist founder Cos shared on X.
Once inside the system, attackers can access browser data, cloud storage, or private keys, exposing users to total account compromise. These multi-layered attacks represent a new “identity hijack” category combining technical infiltration and social trust manipulation.
Social Engineering to Exploit Human Vulnerability
Bitget’s report stresses that modern scams rely as much on psychology as code. One notable trend is the rise of “AI arbitrage bot” scams, where scammers promise effortless gains using ChatGPT-branded smart contracts.
Bad actors trick users into deploying malicious code via fake Remix IDE pages, and their funds are instantly rerouted to scammer wallets.
What’s worse? These schemes are often small-scale, targeting victims for $50–$200 at a time. While the losses are minor enough to deter pursuit, they are frequent enough to generate large cumulative profits for attackers.
Ponzi Schemes Behind Promised Yields
Beyond AI-generated scams, Bitget also warns that traditional Ponzi and pyramid schemes have not disappeared, but have mutated. Specifically, these scams have undergone a “digital evolution,” leveraging on-chain tools, rapid viral marketing, and the illusion of legitimacy through smart contracts.
Instead of opaque offshore bank accounts, modern-day fraudsters attract victims through Telegram groups, Twitter hype, and tokens with built-in referral mechanics.
Smart contracts give these scams a thin veneer of decentralization and transparency. Meanwhile, carefully obfuscated tokenomics mimic legitimate yield structures until the inevitable collapse.
A potent mix of social engineering and digital virality is fueling this transformation. Influencers and anonymous promoters often seed these scams through memes, testimonials, or even AI-generated videos posing as reputable figures.
Projects disguised as “community-driven” DAOs or staking protocols rope users in with unsustainable returns, creating a frenzy of buy-ins that mask the exit liquidity strategy.
As regulation struggles to catch up, the speed and scale at which these digital Ponzi schemes propagate make them harder to track.
A Call for Skepticism and Collective Defense
Against this backdrop, Bitget has launched a dedicated Anti-Scam Hub, integrating real-time behavioral analytics to flag suspicious activity.
It has partnered with Elliptic and SlowMist to trace illicit fund flows and dismantle phishing infrastructures across multiple chains.
The report urges users to verify all asset-related instructions across multiple channels, noting that visual and auditory credibility is no longer enough. It also encourages projects to adopt on-chain signature broadcasts and maintain a single verified communication channel.
Scam Red Flags and Protection Measures. Source: Bitget report
With scams advancing, so must user and ecosystem defenses. The crypto industry now faces a dual challenge: safeguarding assets and rebuilding user trust in a digital world where anyone can be anyone.
Fresh reports from the International Monetary Fund (IMF) indicate that El Salvador is complying with loan conditions. One key aspect of the loan conditions revolves around the halting of Bitcoin purchases with public funds, but President Nayib Bukele is keen on sidestepping hurdles.
El Salvador Halts Bitcoin Accumulation To Comply With The IMF
According to details of a press briefing by the IMF’s Western Hemisphere Department, El Salvador has paused its Bitcoin purchases with public sector funds. Rodrigo Valdes, the IMF’s Director of the Western Hemisphere Department, confirmed the changing government stance to achieve compliance with loan conditions.
As part of a $1.4 billion loan deal, the IMF required El Salvador to halt public sector accumulation of Bitcoin. Despite initial pushback from President Nayib Bukele, Valdes confirms that the government is holding its end of the bargain.
Valdes disclosed that El Salvador is in full compliance with its loan obligations, squashing speculation that the country violates its terms.
“In terms of El Salvador, let me say that I can confirm that they continue to comply with their commitment of non-accumulation of bitcoin by the overall fiscal sector, which is the performance criteria that we have,” said Valdes.
Apart from shuttering its public sector BTC accumulation, the IMF notes that the country is also ticking the boxes in fiscal transparency and structural reforms. With the current Bitcoin price close to $100K, the value of El Salvador’s 6,158 BTC stands at $583 million.
Nayib Bukele Continues Daily BTC Accumulation
Despite the requirement against public sector Bitcoin purchases, the Latin American country continues to stack up its BTC holdings. According to data from the National Bitcoin Office, El Salvador is buying one Bitcoin per day in defiance of the IMF.
Rather than limit its BTC accumulation to public sector funds, El Salvador’s President Nayib Bukele is exploring alternative sources. Bukele has previously disclosed that the country’s Bitcoin accumulation will continue amid IMF pressure to limit its options.
The National Bitcoin Office has not publicly disclosed its funding sources for the daily BTC purchases, stoking a wave of speculation. The consensus is that the government is tapping non-public sector entities to power its daily Bitcoin accumulation spree.
The country may be funding its daily purchases from the profits of its Strategic Bitcoin Reserve, with the average purchase price sitting at around $44,000. Other countries, keen on mirroring El Salvador’s lead, are eyeing a Strategic Bitcoin Reserve, with Samson Mow making a strong case for Japan.
Apart from financial inclusion and reducing its dollar dependency, President Bukele is eyeing a raft of economic benefits. Cathie Wood’s Ark Invest predicts the Bitcoin price to climb as high as $1.5 million per BTC by 2030, potentially sending the value of El Salvador’s holdings to astronomical levels.
