Post #15747

Metals Break Out, Bitcoin Lags Gold and silver remain in strong breakout trends, printing fresh highs with clear upside momentum. Bitcoin, on the other hand, continues to lag — failed bounces, heavy price action, and struggling to reclaim key levels. The divergence is obvious: metals are trending, crypto is stalling. Even with a weaker dollar, Bitcoin isn’t behaving like a hedge. Markets still view BTC as a liquidity-driven risk asset, not a defensive one, while gold and silver are benefiting from classic safe-haven flows. On top of that, rising Japanese yields and the prospect of further BoJ hikes are an added headwind. Bitcoin has been a beneficiary of the yen carry trade — borrowing in a low-yielding currency like JPY to buy higher-return assets. As that funding becomes more expensive, it reduces one of the structural tailwinds that previously supported crypto demand. - Alan