Gold Climbs, Bitcoin Lingers In Consolidation

While gold smashes a new record above $5,300 per ounce, bitcoin stalls below $90,000. This stark contrast between two assets often described as safe havens raises questions. Why is the precious metal attracting massive capital while the leading crypto is stuck? In a tense economic context, this gap reveals a shift in investors’ perception in the face of uncertainty.

The $90,000 threshold eludes bitcoin

The bitcoin price briefly crossed $90,500 during the Wall Street opening on Wednesday, before falling back below $88,800.

This movement was interpreted by analysts as a failure to establish itself above a key psychological threshold. Michaël van de Poppe, an active trader in the crypto sphere, anticipated a strong market reaction: “we can expect sparks”, he wrote on X.

Meanwhile, gold, a traditional safe haven, reached a new historic high above $5,300 per ounce in Asian markets, highlighting a clear divergence between the two assets.

Several macroeconomic elements have helped support the price of gold while bitcoin plateaued :

• A marked weakness of the US dollar, recording its largest annual drop since 2017 ;

• The geopolitical uncertainty climate, favoring the search for protection through tangible assets ;

• The perception of implicit support from US authorities for a weakened dollar, as suggested by The Kobeissi Letter: “a weaker dollar leads to lower rates, higher exports, a reduced trade deficit, and nominal GDP growth” ;

• Renewed appeal for traditional assets, with gold benefiting from an increased investment flow in the face of perceived crypto volatility.

Bitcoin trapped in a technical wait zone

While gold fully benefits from geopolitical tensions and the uncertain macroeconomic climate, bitcoin seems, on the contrary, stuck in a prolonged consolidation phase.

Since November 2025, BTC has been moving within a range between $86,000 and $93,000, without managing to break this structure. Trader Rekt Capital warns that “if the current rebound fails to exceed the previous +13 % move, this would indicate a weakening of the lower bound support, potentially announcing a long-term bearish breakout“. Meanwhile, volatility is decreasing, making the reading of technical signals more delicate.

This stagnation is triggering growing impatience among traders. EliZ, another trading figure on X, emphasizes : “currently, liquidity is concentrated at the edges of the range. Bitcoin cannot remain stuck in the middle : sooner or later, it will have to look for orders on either side“. The analysis reveals a market in unstable equilibrium, awaiting a strong enough external or internal trigger to prompt a clear directional move.

This marked divergence with gold could signal a new seasonality for bitcoin, less correlated with macroeconomic tensions. Between technical waiting and strategic repositioning by investors, the crypto appears to be entering a phase of uncertainty where its role as a safe haven is questioned.