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Crypto Lags While Gold Soars And US Stocks Climb

Photo by Kanchanara / Unsplash

Cryptocurrency prices were mostly muted on Monday as gold surged to a new record and US stock markets moved higher, according to market data. Gold jumped 2 percent to a record $4,475 per ounce, while silver rose 1.6 percent and briefly touched a fresh high near $70.

At the same time, the Nasdaq and S&P 500 each gained about 0.6 percent, while the US dollar edged lower.

Bitcoin climbed above $90,000 during Asian and European trading but failed to hold the level after US markets opened.

It later traded near $89,000, underperforming most major asset classes. Ether, Solana, and XRP also posted modest gains before pulling back.

Crypto-related stocks tied to artificial intelligence infrastructure outperformed after Alphabet announced a $4.75 billion acquisition of Intersect.

Analysts at ByteTree said bitcoin may struggle to rally further until the strong run in precious metals cools.

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