Биткоин снова на высоте $90 000: влияние драгметаллов и слабого доллара на рынок криптовалют Translation: Bitcoin Soars Back to $90,000: The Impact of Precious Metals and a Weak Dollar on the Cryptocurrency Market

On December 29, the price of the first cryptocurrency surpassed the $90,000 mark. Following the market leader, the price of Ethereum rose above $3,000.

As of the time of writing, Bitcoin is trading at $89,996, while Ethereum stands at $3,037.

Sebastian Bea, the Chief Investment Officer at ReserveOne Inc., has linked the current momentum to the activities of retail traders. He believes that the upward trend is driven by short-term traders increasing their positions in the futures market.

The recovery of leading assets has turned the top 10 cryptocurrencies by market capitalization green. Altcoins are showing positive dynamics, regaining ground after a recent decline.

The sharp upward movement triggered a wave of liquidations totaling $169.86 million, with $45.37 million attributed to Ethereum.

Despite the price rebound, market sentiment remains bearish. A popular indicator has indicated «extreme fear» for the past 16 days.

Crypto investor and blogger Lark Davis reminded that Bitcoin’s price is only 3% lower than the start of the year. The so-called «post-halving» annual candle has never been red before.

On December 28, the price of silver reached a historic high, nearing $84. Gold also set a record, rising to $4,530.

In The Kobeissi Letter, attention was drawn to the extreme volatility of silver over the weekend. The price movement resembled that of digital assets: a sharp rise was followed by a rapid drop.

«Absolute madness in silver. At 6:20 PM ET, just 20 minutes after the futures opened, the price surged to a record $83.75 (+6%). By 7:30 PM ET, prices had fallen to a low of $75.15, losing 10% of their value in 70 minutes,» the analysts noted.

Experts have linked the rally in metals to the upcoming change of leadership at the Federal Reserve in 2026. The market anticipates that the new chair will be aligned with the policies of U.S. President Donald Trump and will shift towards lowering interest rates.

Support for the prices is also fueled by strong industrial demand and hedging against inflationary risks (the so-called «shorting the dollar»).

Despite the current lull in cryptocurrencies, digital assets significantly outperform metals in the long run.

Analyst Adam Livingston calculated that since 2015, Bitcoin has increased by 27,701%. In the same period, silver has only gained 405%, while gold has risen by 283%.

Notable cryptocurrency critic Peter Schiff countered Livingston’s claim, suggesting that the performance should be evaluated over the past four years instead of ten. He believes that «the time for Bitcoin has passed.»

Co-founder of Orange Horizon Wealth Matt Goliher joined the discussion. He pointed out a fundamental issue with commodities: rising prices make extraction from previously unprofitable mines viable. Increased supply inevitably drives prices down—a mechanism absent in Bitcoin with its fixed issuance.

Amid the debate about the best store of value, the U.S. dollar is finishing 2025 with its worst performance in a decade. Analyst Ethan Ralph noted that the U.S. Dollar Index (DXY) has fallen by nearly 10%.

«The depreciation of the dollar and the Fed’s inflationary policies will serve as a positive catalyst for gold, silver, and Bitcoin,» believes former BitMEX CEO Arthur Hayes.

It’s worth noting that Matt Hougan, the Chief Investment Officer at Bitwise, believes that in the next decade, the first cryptocurrency will continue to show high returns; however, significant fluctuations within the year are unlikely.