TLDR
- Gold reached a new all-time high above $5,000 per ounce driven by geopolitical uncertainty and dollar weakness
- Bitcoin trades near $87,000 as on-chain data reveals holders are selling at a loss for the first time since October 2023
- Heavy supply overhang above $100,000 prevents bitcoin from making sustained upward moves
- President Trump threatened 100% tariffs on Canada over its electric vehicle trade deal with China
- Ethereum and other crypto assets show weak demand as investors avoid higher-risk positions
Gold prices surged past $5,000 per ounce over the weekend as investors sought safe haven assets. The precious metal reached an all-time high as global tensions increased and the US dollar weakened.
Micro Gold Futures,Feb-2026 (MGC=F)Bitcoin remained near $87,000 in early Asian trading hours. The cryptocurrency has failed to gain momentum despite gold’s strong rally.
New data from CryptoQuant shows bitcoin investors are selling their holdings at a loss. This represents the first time since October 2023 that holders have accepted losses on their positions.
The report indicates that long-term bitcoin holders are exiting their investments. Newer buyers are entering the market but at lower price points. This selling pattern typically indicates a market entering a consolidation phase.
Glassnode analysis reveals bitcoin faces strong resistance above current levels. Sellers consistently emerge near the $98,000 to $100,000 range. These sellers purchased bitcoin during 2025 price peaks and are now cutting losses or breaking even.
The supply pressure creates a barrier that prevents bitcoin from climbing higher. Each rally attempt meets with increased selling from investors trying to exit positions.
Futures and Options Signal Cautious Market Outlook
Trading volumes in bitcoin futures remain low across exchanges. Traders are deploying limited leverage as uncertainty persists. Recent price movements have occurred during thin liquidity conditions rather than robust buying activity.
Ethereum continues to underperform relative to bitcoin. The second-largest cryptocurrency by market value shows minimal demand. Derivatives markets for ethereum remain quiet as investors stay away from higher-risk crypto assets.
Prediction markets on Polymarket show traders expect gold to maintain strength. Participants are betting gold will stay above $5,500 through the middle of 2026. The same traders anticipate bitcoin will consolidate further before any potential upward movement.
Trump Escalates Trade Tensions With Canada
President Trump announced Saturday he would impose 100% tariffs on Canada if the country proceeds with its China trade agreement. The threat targets Canada’s recent deal to lower tariffs on Chinese electric vehicles.
Under the agreement, Canada reduced barriers on Chinese EVs in exchange for lower Chinese taxes on Canadian agricultural products. The Trump administration argues this deal may breach the United States-Mexico-Canada free trade agreement.
Canadian Prime Minister Mark Carney responded Sunday by reaffirming Canada’s commitment to USMCA. He stated Canada will not pursue free trade agreements with non-market economies. The USMCA faces renegotiation this summer.
US Treasury Secretary Scott Bessent criticized Carney during a Sunday interview on ABC’s This Week. Bessent accused the Canadian leader of reversing course after previously supporting US tariffs on Chinese steel.
Central banks continue purchasing gold at elevated levels. This institutional buying provides ongoing support for prices. The weaker dollar makes gold more attractive to international investors holding other currencies.
Bitcoin faces continued pressure from internal supply dynamics rather than external market factors. The cryptocurrency must work through existing overhead supply before attempting another move toward $100,000.
The post Daily Market Update: Gold Hits $5,000 Record While Bitcoin Stalls at $87,000 appeared first on Blockonomi.
Source: https://blockonomi.com/daily-market-update-gold-hits-5000-record-while-bitcoin-stalls-at-87000/
