Bitcoin hovers near $89,000 while gold hits new highs and Asian equities rise.

Bitcoin hovered near $88,800 on Monday as global markets moved back into risk mode following record highs in gold and gains across Asian equities.

Ether climbed above $3,000, while XRP, Solana, and Dogecoin also edged higher after a volatile stretch in which crypto prices swung sharply, often independently of stocks and commodities.

The calmer tone coincided with gold hitting an all-time high above $4,380 an ounce, fueled by expectations that the Federal Reserve may implement additional rate cuts in 2026. The metal is on track for its strongest annual performance since 1979, supported by central-bank buying and steady inflows into gold-backed ETFs.

Asian equities rose alongside gains in precious metals. The MSCI Asia Pacific Index gained more than 1%, led by technology stocks, after a rebound in U.S. equities late last week. U.S. equity futures were also higher.

Japan remained in focus following the Bank of Japan’s recent rate hike, which pushed government bond yields to multi-year highs. The yen strengthened after officials warned against excessive currency movements, while higher yields signaled a shift away from years of ultra-loose monetary policy.

Crypto followed the broader risk sentiment but remained fragile. Traders cited thin year-end liquidity and lingering leverage as factors keeping rallies in check.

Data from K33 Research shows long-term Bitcoin holders are nearing the end of an extended selling phase, while institutional buyers are absorbing Bitcoin faster than miners can produce it. Corporate treasuries and ETFs have increased purchases even after prices fell more than 30% from October highs.

Overall, crypto continues to respond to macroeconomic cues—supported by rate-cut expectations and gold’s haven appeal, yet tempered by the lingering effects of a deep fourth-quarter drawdown.