Bitcoin’s pullback during U.S. trading comes amid record highs for gold and silver, with analysts suggesting crypto may not rally until precious metals cool.
Bitcoin briefly topped $90,000 in Asian and European trading before retreating to around $89,000 during U.S. hours as gold surged 2% to a record $4,475 per ounce and silver rose 1.6% near $70. Analysts at ByteTree said crypto is unlikely to rally until the metals’ bull run pauses. Ether, Solana, and XRP also eased from earlier highs. AI-linked bitcoin miners including Hut 8 and Cipher Mining outperformed, boosted by Alphabet’s $4.75 billion acquisition of AI startup Intersect. Broader U.S. equities rose, while the dollar index fell. BNB gained 1.7% despite an FT report alleging Binance failed to prevent suspicious transactions.