{"id":60340,"date":"2026-01-26T09:34:31","date_gmt":"2026-01-26T02:34:31","guid":{"rendered":"https:\/\/hbbgroup.net\/gold-tops-5000-as-bitcoin-stalls-near-87000-in-widening-macro-crypto-split-asia-morning-briefing\/"},"modified":"2026-01-26T09:34:31","modified_gmt":"2026-01-26T02:34:31","slug":"gold-tops-5000-as-bitcoin-stalls-near-87000-in-widening-macro-crypto-split-asia-morning-briefing","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/vi\/gold-tops-5000-as-bitcoin-stalls-near-87000-in-widening-macro-crypto-split-asia-morning-briefing\/","title":{"rendered":"Gold tops $5,000 as bitcoin stalls near $87,000 in widening macro-crypto split: Asia Morning Briefing"},"content":{"rendered":"
\n

Bitcoin\u2019s onchain data points to supply overhang and weak participation, while gold\u2019s breakout is priced by markets as a durable macro regime shift. <\/h2>\n

Updated Jan 26, 2026, 2:20\u202fa.m. <\/span>Published Jan 26, 2026, 2:11\u202fa.m. <\/span><\/p>\n<\/div>\n

\n

Good Morning, Asia. Here’s what’s making news in the markets:<\/strong><\/h2>\n

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see<\/em>\u00a0CoinDesk’s Crypto Daybook Americas.<\/em><\/a><\/p>\n

Gold\u2019s breakout above $5,000 is beginning to look less like a spike and more like a regime shift, as bitcoin drifts sideways around $87,000 in the early hours of Hong Kong trading, in a low-conviction market that continues to struggle with internal supply dynamics.<\/p>\n

Onchain indicators suggest the divergence reflects market structure rather than sentiment alone.<\/p>\n

In its latest report, CryptoQuant says bitcoin holders have started selling at a loss for the first time since October 2023, with older buyers exiting positions and newer holders stepping in, a pattern that typically marks a market moving into consolidation rather than acceleration.<\/p>\n

Glassnode says the market is being held back by supply, with rallies repeatedly running into sellers near the prices where recent buyers originally bought in.<\/p>\n

Options and prediction markets reinforce that view: the market is pricing gold\u2019s strength as persistent while fading expectations for a near-term resurgence in bitcoin rally.<\/p>\n

Glassnode writes that the price continues to stall below key short-term holder cost bases near $98,000, with a dense supply overhang above $100,000 \u2013 meaning there are enough sellers at higher levels to cap rallies and make a sustained move above $100k difficult in the near term.<\/p>\n

Recent rallies have drawn out breakeven sellers and loss-driven exits from investors who accumulated during the 2025 highs, reinforcing overhead resistance and keeping upside fragile.<\/p>\n

Market mechanics reinforce that diagnosis.<\/p>\n

Futures volumes remain compressed, leverage deployment is subdued, and recent price movements have occurred in thin liquidity rather than alongside expanding participation.<\/p>\n

On Polymarket<\/a>, traders are assigning higher odds to gold holding above $5,500 through mid-year, while increasingly betting that bitcoin sees further consolidation before any renewed upside. <\/p>\n

For now, gold is absorbing macro stress, while bitcoin remains in digestion mode<\/a>, working through internal supply rather than responding to external catalysts.<\/p>\n

Market Movement<\/strong><\/h2>\n

BTC: <\/strong>Bitcoin is trading around $87,000, struggling to gain traction as overhead supply, thin participation, and subdued leverage keep rallies vulnerable to renewed distribution.<\/p>\n

ETH: <\/strong>Ether is underperforming bitcoin, with price action reflecting weak demand, muted derivatives participation, and little sign that investors are rotating meaningfully back into higher beta crypto assets.<\/p>\n

Gold: <\/strong>Gold surged to a fresh record above $5,000 an ounce as investors piled into the metal amid rising geopolitical flashpoints, sustained central bank buying, and a weaker U.S. dollar, reinforcing its role as a durable hedge against global risk.<\/p>\n

Nikkei 225: <\/strong>Japan\u2019s Nikkei slid as Asia-Pacific markets traded mixed amid rising geopolitical uncertainty, with a stronger yen weighing on Japanese stocks while other regional benchmarks moved unevenly.<\/p>\n

Elsewhere in Crypto<\/strong><\/h2>\n