Bitcoin sinks below $87,000 as crypto assets slide, metals soar post-Xmas

Following the Christmas holiday, Bitcoin tumbled back below $87,000 after briefly nudging above $89,000 overnight, as the broader crypto sector gave up any early gains upon the start of U.S. trading. This poor price action in crypto occurred while precious and industrial metals—including gold, silver, copper, and platinum—surged to new record highs. Metals were attracting capital due to the global debasement trade and rising geopolitical tensions stemming from U.S. actions against Islamic State targets and increased pressure on Venezuela. Palladium and platinum led the metals rally, while major stock indices traded flat. Most cryptocurrencies, including Ether and DOGE, saw declines, and crypto stocks like Coinbase and Gemini also traded lower, with Bitcoin miners being particularly hard hit.

(Source：CoinDesk)