The precious metals are on the run again. BTC tried but failed.
With the growing global uncertainty and rising geopolitical tension, it’s evident that investors tend to pick more stable and historically proven assets such as gold and silver, while leaving cryptocurrencies aside, at least for the time being.
In the past few hours alone, BTC attempted a breakout, which was quickly halted at $91,000 while gold and silver charted fresh all-time highs.
Bitcoin’s early 2026 gains were quickly erased this week as Trump and the EU went on a full-scale verbal war with tariff threats and potential “bazookas” over Greenland.
As a result, the primary cryptocurrency fell from over $95,000 to a multi-week low of $87,200 before it staged a recovery to nearly $90,000, where it spent most of the past day. It finally tried to break out hours ago, but the bears stepped up at $91,200 and didn’t allow another run.
Just the opposite, BTC tumbled again by almost two grand immediately. Most altcoins followed suit, leaving over $300 million worth of liquidations on a daily scale, according to Coinglass data. Over half of that amount was wrecked in the past 4 hours alone.
At the same time, the precious metal market continues to boom. Gold peaked at $4,970 earlier today, where it faced some rejection, but broke through that level and marked a new all-time high at $4,980. As such, it has neared $5,000 for the first time ever. The bullion is up by over 15% since the start of the year.
Silver is the other massive gainer as of late. After surging by triple digits in 2025, it continues its run as 2026 began and has now surged by a whopping 42% in the matter of just a few weeks. Its latest record came hours ago when it soared past $100.
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A large portion of those gains against the greenback can be attributed to its poor performance. As reported by Bloomberg, the dollar is set to close its worst week against other currencies (and asset classes) since June.
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