Bitcoin remains just under $90,000, struggling to push higher as gold and silver reach fresh records in a metals rally. A DeFi study suggests Bitcoin has fared comparatively well in recent cycles, implying that the current weakness may overstate the underlying strength. Bitcoin has fallen about 29% 110 days from its all-time high, with declines of 41% in 2021 and 55% in 2017 over the same horizon.
Despite the drawdown, Bitcoin’s resilience stands out as metals rally, with gold and silver outperforming the cryptocurrency’s weakness. From a longer-term perspective, Bitcoin has surged roughly 429% since 2022, while gold rose 177% and silver 350%, illustrating the broader performance gap between crypto and traditional equities. Analysts note momentum in the precious metals rally could persist, potentially drawing retail buyers, while the macro backdrop points to a risk-off environment that favors gold.
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