Bitcoin remains coiled under $88,500 as gold tops $5,000, silver gives back gains

Bitcoin traded under the $88,500 level, alongside most major cryptocurrencies, as markets softened ahead of a critical week featuring a Federal Reserve policy decision and earnings from Magnificent Seven tech companies. While gold briefly topped $5,000 and silver experienced significant volatility, crypto markets struggled to participate in the broader macro rally, suggesting Bitcoin is currently acting as a high-beta, risk-sensitive asset rather than a hedge. Analysts note that Bitcoin remains technically bearish, trading below key moving averages. Market direction for crypto is expected to depend heavily on the Fed's messaging and Big Tech results, keeping Bitcoin pinned near current levels until clearer direction emerges.

(Source：CoinDesk)