Bitcoin traded near $88,800 on Monday as global markets leaned back on risk following record gold prices and gains across Asian shares.
Ether climbed back above $3,000, while XRP, Solana and Dogecoin also rose higher after a volatile stretch where crypto prices fluctuated wildly independent of stocks and commodities.
The steadier tone came as gold was pushed to a record high above $4,380 a barrel. ounce, driven by growing bets that the Federal Reserve will deliver further rate cuts in 2026.
The metal is on course for its strongest annual performance since 1979, supported by central bank purchases and sustained inflows into gold-backed exchange-traded funds.
Asian shares rose along with the move in precious metals. The MSCI Asia Pacific Index rose more than 1%, led by technology stocks, after a rally in U.S. stocks late last week helped calm global markets. US stock futures were also higher.
Japan remained in focus after the Bank of Japan’s latest rate hike pushed government bond yields to multi-year highs. The yen strengthened after officials warned against excessive currency moves, while higher interest rates reinforced the shift away from years of ultra-loose policy.
Crypto followed the broader risk tone but remained fragile. Traders pointed to thin year-end liquidity and prolonged leverage as factors keeping the rally in check.
Data from K33 Research shows that long-term bitcoin holders are nearing the end of an extended selling phase, while institutional buyers have begun to absorb bitcoin faster than miners can produce it. Corporate Treasuries and ETFs have increased buying, even after prices fell more than 30% from their October highs.
Crypto continues to take cues from the macro backdrop – helped by rate cut expectations and demand for gold, but dampened by the after-effects of a deep Q4 slump.
