While the Bitcoin price is correcting toward the $87,500 level, the precious metals market is posting a strong rally, pushing to fresh all-time highs. In the final trading days of the 2025 crypto year, a trend reversal has yet to materialize: on Saturday morning, Bitcoin is down around 1.3% on the day, while Ethereum, XRP, and other major altcoins are also under pressure, recording moderate losses.
A very different picture is unfolding in the safe-haven segment. The gold price set a new all-time high on Friday, climbing to $4,546 and extending its powerful rally. Silver also accelerated higher, reaching up to $75.92 per ounce.
According to analysts, the key driver behind the surge in precious metals is escalating geopolitical tensions, particularly the standoff between the United States and Venezuela, which has reinforced the classic “flight to commodities.” Additional support for gold and silver comes from expectations of monetary easing by the U.S. Federal Reserve in 2026.
On a yearly basis, the contrast is even more striking: gold is up roughly 73%, while silver has gained about 162%. Against this backdrop, the crypto market has disappointed: over the same period, Bitcoin has fallen by around 6%, underperforming defensive assets.
In theory, a shift toward lower interest rates is traditionally seen as a bullish factor for Bitcoin as well. However, under current conditions, investors remain cautious. The Fear and Greed Index stands at 23 points, placing market sentiment firmly in the “extreme fear” zone. The indicator last returned to neutral territory at the end of October.
Meanwhile, spot ETFs have yet to provide support for the market. Over the past trading week, Bitcoin ETFs recorded net outflows of $584 million, while Ethereum funds lost an additional $80 million, highlighting weak institutional demand.
Despite the disappointing performance in 2025, some analysts believe that amid prevailing pessimism, 2026 could deliver positive surprises for the cryptocurrency market — provided macroeconomic conditions stabilize and investor confidence begins to recover.