Gold and silver rally while Bitcoin falls below $90,000, $150 billion wiped out from crypto markets
Synopsis
Gold and silver hit record highs as investors seek safety, while cryptocurrencies face a sharp sell-off. Bitcoin slipped below $90,000 amid heavy liquidations, rising bond yields, macro uncertainty and geopolitical tensions, wiping out nearly $150 billion from crypto markets.
Gold and silver continued to surge to fresh highs as investors moved towards safer assets, while the cryptocurrency market saw a sharp sell-off. Bitcoin slipped below the $90,000 mark, triggering nearly $150 billion wiped out from the overall crypto market.
In the last 24 hours, Bitcoin fell by 2.27% to trade at $89,456. Meanwhile, Ethereum declined by 5.71% to trade at the $2,979 mark. Among the major altcoins, BNB, XRP, Solana, Tron, Dogecoin, Cardano and Hyperliquid edged down up to 8%. The global crypto market capitalisation slipped 3.43% to $3.02 trillion, according to .
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CoinDCX Research Team said over $1.3 trillion from the US stock markets has been wiped out; nearly $1 billion in longs has been liquidated in the past 24 hours, with the single largest liquidation being Bitcoin, valued at $13.52 million.
Crypto TrackerTOP COINS (₹) Tether91 (0.49%)Bitcoin8,214,079 (-1.18%)XRP176 (-1.5%)BNB80,768 (-3.56%)Ethereum273,346 (-5.01%)
Ethereum fell around 10.42% over the past week, while Bitcoin declined by 5.77%. Among the major altcoins, BNB, XRP, Solana, Tron, Dogecoin, Cardano and Hyperliquid fell over 16% last week.
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CoinSwitch Markets Desk said the last 24 hours saw roughly $1 billion in liquidations, largely concentrated in Bitcoin and ETH, which together accounted for about $830 million, reflecting a sharp leverage unwind.
“Sentiment weakened due to US-Europe trade tensions linked to Greenland and tariff concerns, reinforcing a global risk-off tone,” CoinSwitch Markets Desk added.
Here is what other analysts say
Riya Sehgal, Research Analyst, Delta Exchange
The cryptocurrency market extended its downturn this week, with major assets falling as macro headwinds and geopolitical tensions hurt risk appetite, and Bitcoin and Ethereum reached their lowest levels in two weeks.
Rising yields in US and Japanese bonds added to the risk-off sentiment, triggering over $1 billion in crypto liquidations in 24 hours. The drop is also attributed to leveraged unwinding, ETF outflows and investor rotation into safe havens like gold and silver, both of which have reached record highs.
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Vikram Subburaj, CEO, Giottus
The absence of fresh inflows into January 21 reinforced the sense that institutional allocators are pausing rather than adding exposure. This is consistent with a broader wait-and-watch approach amid shifting rate expectations.
Macro cues continue to dominate sentiment. Markets are positioning for a dense run of US data releases, particularly inflation and labour indicators, that will shape expectations around the Federal Reserve’s policy path. Rising Treasury yields and a firm dollar have kept risk assets in check. Any evidence of cooling inflation could revive appetite for Bitcoin and other digital assets, as seen in past cycles.
Akshat Siddhant, Lead Quant Analyst, Mudrex
The crypto market is consolidating as concerns over tariff-driven inflation keep investors cautious. Bitcoin is holding near $89,000, while Ethereum has slipped below the $3,000 psychological mark. This phase appears to be a healthy pullback rather than a trend reversal.
Nischal Shetty, Founder, WazirX
Bitcoin and other large-cap cryptocurrencies are broadly in line with global risk assets, suggesting that near-term price action remains influenced by macro developments rather than crypto-specific triggers. Traders are taking a wait-and-watch approach, reducing exposure and reassessing positions until clearer signals emerge.
(Disclaimer: Recommendations, suggestions, views and opinions given by experts are their own and do not represent the views of The Economic Times.)
