With continued global uncertainties and rising geopolitical tensions, investors are increasingly leaning towards stable assets like gold and silver, while Bitcoin remains sidelined for now.

In recent hours, Bitcoin (BTC) attempted to break out above $91,000 only to face resistance, while both gold and silver continue to achieve new record highs.

BTCUSD Jan 23 BTCUSD Jan 23. Source: TradingView

Bitcoin’s initial gains this week quickly receded as geopolitical disputes intensified, leading to tariff threats from Trump and other leaders, causing a plunge from over $95,000 to a low of $87,200 before rebounding to nearly $90,000, where it struggled for a day. Another attempt to push past $91,200 was thwarted, resulting in a swift drop of nearly $2,000 soon after.

Meanwhile, gold prices hit a new peak at $4,980, having risen over 15% since the year’s start, and silver soared past $100, marking a remarkable 42% increase in just a few weeks.

For contrast, the dollar is suffering its worst performance in months leading many to seek refuge in precious metals.

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This ongoing volatility highlights the intense market dynamics as Bitcoin navigates its latest challenges.