Bitcoin Dips Below $121K as Gold and Silver Rally Takes a Breather
Digital gold stumbles while traditional metals catch their breath.
The Correction Phase
Bitcoin's relentless climb finally hit a speed bump, sliding under the $121,000 threshold as precious metals paused their own impressive run. The crypto king's pullback comes amid profit-taking across alternative assets—proving even bull markets need to breathe occasionally.
Market Dynamics at Play
Traders rotated out of digital assets as gold and silver's momentum temporarily cooled. The simultaneous pause across both traditional and crypto safe havens suggests broader market recalibration rather than sector-specific concerns. Volatility remains the only constant in these markets—where yesterday's all-time high becomes today's support test.
Looking Ahead
This minor dip represents healthy consolidation after extended rallies across multiple asset classes. History shows Bitcoin rarely moves in straight lines for long—each correction sets the stage for the next leg up. Meanwhile, traditional finance veterans continue watching from the sidelines, still trying to time a market that operates 24/7.
Because nothing says sophisticated investing like waiting for metal prices to move while algorithms trade digital assets at light speed.
Altcoins bleed against BTC
Smaller cryptocurrencies fared worse during the pullback: ether slumped 3.5% to $4,300, while BNB and Doge also fell 3%-4%.
Amidst the risk-off move, bitcoin's market share of the total crypto market climbed to its strongest reading in nearly eight weeks The Bitcoin Dominance metric rose above 59.4% for the first time since August, TradingView data shows, suggesting traders rotate capital back to the largest crypto asset.
The pullback rippled across crypto derivatives markets as well. Over $600 million Leveraged trading positions were liquidated across all digital asset in the past 24 hours, CoinGlass data shows.
