An interesting situation is developing in the markets. While gold has exceeded $5,000 per ounce and silver jumped more than 14% in a day (the biggest since the 2008 crisis), Bitcoin is stuck around $88,400 and has been falling for the fourth week. This divergence is quite notable and warrants some reflection.

Bitcoin has lost about 4% over the past week, and Ethereum hovers around $2,940. Solana, XRP, and Dogecoin are also under pressure. Meanwhile, stocks are rising, metals are soaring, and crypto is just holding steady. It seems that cryptocurrencies are currently trading like regular risky assets rather than as an inflation hedge, as many expected.

The technical picture is uninspiring. According to analysts, BTC remains below key moving average lines and isn’t attempting to break upward. Volumes are low, traders are waiting. Everyone is waiting for Wednesday — the Fed’s decision on interest rates and reports from major tech companies. If the stock market starts to decline, crypto will likely fall along with it.

Interestingly, even with a weakened dollar and geopolitical uncertainty, which usually support crypto, gold and silver have significantly exceeded expectations. If you're interested in how to verify gold authenticity before buying, now is a good time to explore that — metals are clearly attracting more attention than crypto. While cryptocurrencies await clear signals, gold has already demonstrated its strength.

However, it’s worth noting that companies like Bitmine are accumulating large amounts of Ethereum — nearly 5% of all Ether. This indicates that institutional interest in crypto still exists; the market is just currently focused on macroeconomics rather than crypto news.