At a Glance
- Bitcoin slipped from over $95,000 to a multi-week low of $87,200 before a brief rebound to nearly $90,000.
- Gold broke past $4,970 to hit a new all-time high of $4,980, nearing the $5,000 mark for the first time.
- Silver surged 42% in a few weeks, crossing the $100 threshold.
- Why it matters: Investors are shifting toward traditional safe-haven assets as cryptocurrency volatility spikes.
Bitcoin’s recent price action illustrates a sharp reversal in sentiment after a week of gains. The cryptocurrency fell from over $95,000 to a multi-week low of $87,200 before attempting a breakout that was halted at $91,200. Meanwhile, gold and silver charted fresh all-time highs, with gold nearing $5,000 for the first time.
Market Overview
Bitcoin’s early 2026 gains were quickly erased this week as geopolitical tensions escalated. Trump and the EU engaged in a verbal war over tariff threats and potential “bazookas” concerning Greenland. This backdrop intensified bearish pressure on the primary cryptocurrency.
- Bitcoin dropped from $95,000 to $87,200.
- It briefly recovered to nearly $90,000.
- A final breakout attempt at $91,200 was stopped by increased selling pressure.
The rapid decline left over $300 million worth of liquidations on a daily scale, with more than half of that amount wiped out in the past four hours, according to Coinglass data.
Precious Metals Surge
While Bitcoin struggled, the precious metal market continued to boom.
Gold
Gold peaked at $4,970 earlier today, faced some rejection, but broke through that level to set a new all-time high at $4,980. This marks the first time bullion has approached $5,000, and it has risen more than 15% since the start of the year.
Silver
Silver surged by triple digits in 2025 and has continued its run into 2026, climbing 42% in just a few weeks. Its latest record came hours ago when it surpassed $100.
The gains against the greenback can be partially attributed to the dollar’s poor performance. Bloomberg reports the dollar is set to close its worst week against other currencies and asset classes since June.
Currency Impact
The dollar’s decline has further encouraged investors to seek stable assets. As the currency weakens, gold and silver have become more attractive, driving their prices higher. This shift has also impacted Bitcoin, as the cryptocurrency’s volatility increases when traditional safe havens strengthen.
Timeline of Key Events
| Date | Event |
|---|---|
| Jan 23 | Bitcoin attempted a breakout at $91,000, halted by bears |
| Early Week | Bitcoin fell from over $95,000 to $87,200 |
| Today | Gold broke $4,970 to reach $4,980 |
| Today | Silver crossed $100 |
Key Takeaways
- Bitcoin is experiencing heightened volatility amid geopolitical tensions.
- Gold and silver have reached new all-time highs, signaling a flight to quality.
- The dollar’s weakness has amplified the shift toward traditional safe-haven assets.
- Investors should monitor the interplay between cryptocurrency volatility and precious metal performance.
—
This article was prepared using factual information from recent market data and analysis.
