How will crypto market react to gold and silver hitting new all-time highs?

Gold and silver have reached record highs, but Bitcoin’s history shows crypto often reacts weeks later rather than immediately.

Gold and silver surged to fresh record highs on Monday, Dec. 22, raising questions about how cryptocurrencies may respond as investors shift toward traditional safe-haven assets.

According to market data from Gold Price, spot gold rose 1.61% to $4,412 per ounce, while spot silver increased 3.3% to a record $69.44. Expectations of more U.S. interest rate cuts, consistent demand for safe havens, and a declining dollar all contributed to the rally.

Gold is up 67% so far this year, supported by geopolitical tensions, strong central bank buying, and hopes for looser monetary policy next year. 

Silver has climbed 138% year to date, helped by investment inflows and ongoing supply limits.  Other metals also moved higher, with platinum jumping 4.3% to $2,057 and palladium rising 4.2% to $1,786.

Why crypto is lagging behind the metals rally

Crypto markets have not followed the move. Bitcoin has been trading between $86,000 and $89,000, around 30% below its early October 2025 peak, as investors step back from risk assets.

Gold often performs well early in periods of economic stress. Falling interest rates increase the appeal of non-yielding assets, while increased uncertainty drives investors toward assets with a long and established history.

In contrast, Bitcoin often trades more like a high-risk asset during the initial phases of these changes. This pattern has been observed previously. Gold hit a record high in August 2020, close to $2,075.

At the time, Bitcoin was trading between $10,000 and $15,000 and showed little reaction. The move came later. By late 2021, Bitcoin had climbed to nearly $69,000, posting gains of more than 300% after gold had already topped.

What past cycles suggest for Bitcoin next

Similar timing gaps appeared in more recent years. Between 2022 and 2024, gold gained about 67%, while Bitcoin rose roughly 400%. 

The moves were not simultaneous. When investors sought safety, gold moved first, followed by Bitcoin when liquidity conditions improved. 

Weeks after significant gold highs, Bitcoin has typically reacted over a number of cycles. In previous instances, Bitcoin has shown gains of roughly 180% over the next six months, with an average delay of about 15 weeks.

In 2025, that trend has shifted. Bitcoin has faced headwinds from equity market weakness and a more risk-averse environment, while gold and silver have risen as recession fears and geopolitical tensions continue to weigh on markets.

As long as economic strains persist, cryptocurrencies may continue to face pressure due to the current flow of capital into metals. If equity markets stabilize and interest rate cuts start to have an impact, Bitcoin’s prospects might get better in the future, especially if investors start taking on riskier investments.