Bitcoin slips as gold and silver attract investor focus ahead of Fed and tech earnings
Bitcoin traded below $88,500 early this week, alongside most major cryptocurrencies, as investors rotated into gold and silver ahead of a key period for global risk assets, including the Federal Reserve policy decision and a heavy schedule of Big Tech earnings.
BTC hovered around $88,400 during Asian trading, down modestly on the day and roughly 4% lower over the past week, according to CoinDesk data. Ether (ETH) was near $2,940, while Solana (SOL) at $125.87, XRP at $1.91, and Dogecoin (DOGE) at $0.1244 also posted slight declines, reflecting a cautious tone across the crypto market.
Precious metals experienced volatile but strong trading. Silver pared some of its earlier gains after recording its sharpest daily jump since 2008, while gold briefly touched $5,000 an ounce before easing back. Even after the retracement, silver closed Monday up 0.6%, following a 14% intraday spike—the largest one-day move since the global financial crisis.
Meanwhile, cryptocurrencies have struggled to capture the macro upside. Bitcoin remains well below its October peak, despite falling real yields, a weaker dollar, and rising geopolitical uncertainty fueling gains in equities and precious metals. The divergence underscores that crypto is currently behaving more like a high-beta asset driven by positioning and liquidity rather than as a hedge.
“Cryptocurrencies remain a lagging class of risk-sensitive assets, underperforming metals and the strongest global currencies,” said Alex Kuptsikevich, chief market analyst at FxPro. “The technical picture remains bearish: BTC is below key moving averages and has yet to challenge support levels from the last two months,” he added.
The Federal Reserve is widely expected to hold interest rates steady at its Wednesday policy meeting, while earnings from several Magnificent Seven companies will test whether the AI-driven equity rally can continue. Both events are potential catalysts for shifts in risk appetite that could influence crypto markets.
For now, bitcoin remains range-bound near current levels, drifting lower as investors await clearer signals from Fed guidance and Big Tech results.
