Bitcoin Slides Below $121K as Gold and Silver Rallies Take Breathers

Bitcoin experienced a quick pullback below $121,000 on October 9, 2025, after initially challenging $124,000. This decline was mirrored by a drop in gold and silver prices, which have been at record levels recently. Notably, silver reached $50 per ounce for the first time, prompting profit-taking that quickly reduced its value by approximately 4%. Market analysts indicate that current technical indicators suggest an overbought market, while potential ongoing issues such as the U.S. government shutdown may further dampen investor sentiment. During this sell-off, smaller cryptocurrencies like ether fell between 3% and 4%, and Bitcoin’s market dominance rose above 59.4%, indicating a rotation back to Bitcoin as traders sought stability. Additionally, more than $600 million in leveraged trading positions across the crypto markets were liquidated in the past day, further highlighting the current volatility in both cryptocurrencies and precious metals markets.

Source 🔗