Bitcoin Slips Below $121K as Silver Hits $50, Gold Pulls Back
Bitcoin’s rally faltered Thursday morning, sliding below $121,000 after briefly touching $124,000 ahead of U.S. market open. The pullback occurred amid profit-taking in gold and silver markets.
Silver surged to a historic $50 per ounce, up 50% from April lows, but quickly retreated roughly 4% to $48.55. Gold also eased, falling over 1% from $4,100 to $4,035, as analysts flagged short-term choppy momentum despite potential medium-term support if macro conditions remain favorable.
Altcoins underperformed, with Ether down 3.5% to $4,300, and BNB and DOGE dropping 3–4%. Bitcoin’s market dominance rose to 59.4%, the highest in nearly eight weeks, reflecting a rotation back into the largest cryptocurrency.
The pullback extended to derivatives markets, with over $600 million in leveraged positions liquidated across crypto in the past 24 hours, according to CoinGlass.
