Bitcoin remains range-bound below $88,500 as gold hits $5,000 and silver eases

Bitcoin drifts lower as gold and silver draw investor attention ahead of Fed and tech earnings

Bitcoin remained below $88,500 early this week, alongside most major cryptocurrencies, as investors rotated into gold and silver ahead of a pivotal stretch for global markets, including the Federal Reserve policy decision and a packed schedule of Big Tech earnings.

BTC traded around $88,400 during Asian hours, modestly down on the day and roughly 4% lower over the past week, according to CoinDesk data. Ether (ETH) hovered near $2,940, while Solana (SOL) at $125.87, XRP at $1.91, and Dogecoin (DOGE) at $0.1244 posted slight declines, reflecting a cautious tone across crypto markets.

Precious metals outperformed, albeit with choppy trading. Silver retreated slightly after its sharpest one-day surge since 2008, while gold briefly topped $5,000 an ounce before easing back. Silver finished Monday up 0.6% after a 14% intraday spike—the largest one-day swing since the global financial crisis—underscoring strong macro demand.

Cryptocurrencies have struggled to follow the broader macro rally. Bitcoin remains well below its October peak, even as falling real yields, a softer dollar, and rising geopolitical uncertainty have boosted equities and precious metals. “Cryptocurrencies remain a lagging class of risk-sensitive assets, underperforming metals and the strongest global currencies,” said Alex Kuptsikevich, chief market analyst at FxPro. He added that BTC remains below key moving averages and has yet to test support levels from the last two months.

Looking ahead, the Federal Reserve is widely expected to hold rates steady at Wednesday’s policy meeting, while earnings from several Magnificent Seven companies will test whether the AI-driven equity rally can extend. Both events are seen as potential catalysts for shifts in risk appetite that could influence crypto markets.

For now, bitcoin appears range-bound near $88,400, drifting lower as investors await clearer direction from Fed guidance and Big Tech results.

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