Bitcoin Falls Below $121K as Silver Hits Historic $50, Gold Pulls Back
Bitcoin’s rally faltered Thursday morning, slipping under $121,000 after briefly trading near $124,000 ahead of U.S. market open. The pullback came amid profit-taking in gold and silver.
Silver climbed 50% from April lows to hit $50 per ounce for the first time, but the milestone sparked a quick retreat, dropping roughly 4% to $48.55. Gold also retreated over 1% from $4,100 to $4,035, as analysts flagged short-term choppy momentum despite medium-term support from favorable macro and real-yield conditions.
Altcoins were hit harder, with Ether down 3.5% to $4,300, and BNB and DOGE falling 3–4%. Bitcoin’s market dominance rose to 59.4%, its highest in nearly eight weeks, reflecting capital rotation back into the largest crypto.
Crypto derivatives also felt the impact, with over $600 million in leveraged positions liquidated in the past 24 hours, according to CoinGlass.
