Bitcoin Price Slips Below $87,000 as Gold, Silver, and Copper Hit Record Highs
December 26, 2025 | By Helene Braun | Edited by Stephen Alpher
Bitcoin faced a notable setback on Friday, plunging below the $87,000 mark and dragging the broader cryptocurrency sector down with it. Meanwhile, traditional precious and industrial metals including gold, silver, platinum, and copper soared to new record highs, attracting investors amid ongoing geopolitical tensions and concerns over currency debasement.
Bitcoin and Crypto Market Performance
After briefly climbing above $89,000 overnight while U.S. markets were closed for the Christmas holiday, bitcoin (BTC) quickly reversed course once trading resumed. By early Friday U.S. trading hours, BTC had fallen beneath $87,000, representing a roughly 1.6% decline over the previous 24 hours.
Other major cryptocurrencies mirrored bitcoin’s downward movement. Ethereum (ETH) traded near $2,930, also down about 1.6%, while altcoins such as Dogecoin (DOGE) and XRP experienced sharper losses—DOGE slipping over 4% and XRP dropping 3%.
Crypto-related stocks followed suit with declines. Coinbase (COIN), despite being named one of the top three fintech prospects for 2026 by Clear Street, saw its shares fall 2%. Other publicly traded crypto companies fared worse: Gemini (GEMI) dropped 6%, Bullish (BLSH) decreased 3.8%, and Galaxy Digital (GLXY) slid 3.5%.
Notably, bitcoin mining firms were hit particularly hard. Stocks like IREN, Cipher Mining (CIFR), Terawulf (WULF), and Marathon Digital (MARA) all dropped more than 5%. Even companies with diversified operations into AI infrastructure, such as Hut 8 (HUT), experienced declines, with Hut 8 down around 7.5%.
Metals Surge Amid Geopolitical Tensions and Debasement Concerns
As cryptocurrencies wavered, metals markets outperformed dramatically. Gold prices climbed 1.5% to reach $4,573 per ounce, while silver and copper each surged approximately 5%. Platinum and palladium led the metals rally, gaining over 10% on the day.
Investors continue to pour capital into these metals, seeking refuge in tangible assets amid a global “debasement trade” prompted by expansive monetary policies and inflationary fears. Adding to the metals’ appeal is rising geopolitical uncertainty—the U.S. recently conducted strikes on Islamic State targets in Nigeria during Christmas Day and increased pressure on Venezuela by blocking sanctioned oil tankers.
Broader Market Context
While metals enjoyed fresh record highs, U.S. equity markets were relatively stable on Friday. The Nasdaq, S&P 500, and Dow Jones Industrial Average traded close to flat in morning sessions, indicating a cautious investor stance heading into the year-end period.
Looking Ahead
2025 has illustrated a growing divergence between structural advancements in blockchain ecosystems and stagnant or negative price performance. Institutional adoption has picked up steadily, yet many Layer-1 blockchain tokens have underperformed amid broader market headwinds.
As bitcoin moves into 2026, investors will be closely watching whether it can regain momentum or whether traditional stores of value like precious metals will continue to dominate the debasement hedge narrative during periods of geopolitical strain.
Cryptocurrency and metals investors face a critical juncture as bitcoin struggles to maintain its foothold while metals attain fresh highs, signaling shifting preferences in a complex global economic environment.