- Bitcoin traded near $88,000 on Monday after a weekend selloff tied to rising U.S. government shutdown risk.
- Gold briefly passed $5,100 and silver hit $118 before retreating to about $5,043 and $108, respectively.
- The U.S. dollar weakened to about 154.07 yen per dollar amid reported intervention by the Federal Reserve and Bank of Japan.
- Swissblock warned a drop below $84,500 could lead to a correction toward $74,000, while Bitfinex sees Bitcoin range-bound between $85,000 and $94,500.
- Spot Bitcoin ETFs posted more than $1.3 billion in cumulative outflows over the past week, and passage of the Clarity Act could be delayed by a potential government shutdown.
On Monday, digital and precious-metals markets showed divergence: Bitcoin remained around $88,000 after weekend selling linked to rising odds of a U.S. government shutdown on Jan. 31, while gold and silver surged before trimming gains. The dollar fell to about 154.07 yen per dollar, weaker by over 1%, after reports said the Federal Reserve and the Bank of Japan intervened in currency markets.
Gold climbed past $5,000 and $5,100 for the first time before pulling back to roughly $5,043, up about 1.3% on the day. Silver reached as high as $118 and later eased to about $108, leaving it up near 7% for the session.
Market observers noted the weekend selloff hit Bitcoin harder than metals. As Will Clemente wrote, “Gold and silver casually adding an entire bitcoin market cap in a single day.”
Analysts at Swissblock signaled caution in a Monday note, saying “Recent price action has reinforced the bearish outlook.” They warned a decisive breakdown below $84,500 could open the door to a deeper correction toward $74,000.
Bitfinex analysts expect Bitcoin to stay range-bound between $85,000 and $94,500 and pointed to options-market positioning that reflects short-term tactical responses. They said traders are “pricing transitory risk rather than a sustained disruption to market structure.”
Pressure also came from persistent selling in spot Bitcoin ETFs, with cumulative outflows exceeding $1.3 billion over the past week. Schwab director of crypto research and strategy Jim Ferraioli said a sustained move beyond current levels likely requires improved on-chain activity, ETF flows, derivatives positioning or miner participation, and noted the Clarity Act’s passage could be delayed by a potential shutdown.
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