Cryptocurrency recovery overshadowed by precious metals

Cryptocurrencies left far behind as precious metals surge

While cryptocurrencies are higher this morning, the rise pales in comparison with the gains in precious metals. While silver and gold have smashed through totemic levels, cryptocurrencies have struggled to get any attention at all, languishing near late-2025 lows after a string of losses over the last two weeks. Compared with previous routs, this decline in cryptocurrencies is quite sedate, which perhaps accounts for the lack of investor attention.

FCA moves forward with crypto rules

It has been encouraging to see further progress on the FCA’s consultation, with the September target for applications now firmly in sight. While the chatter around the decline of the London stock exchange has eased for now, it is still important for UK regulators to push forward with new measures in order to remain at the forefront of the cryptocurrency industry.

What we’re watching – Earnings, Fed, and Yen intervention

It has been an action-packed month, but the newsflow doesn’t stop this week, as the Fed releases its latest decision and the first Magnificent 7 stocks report earnings. In addition, markets are on watch for intervention to prop up a weakening yen, something that is likely to cause ructions across markets; while it has been a quiet start to the year, and a poor one for cryptocurrencies, the parabolic moves in precious metals and worries about high stock market valuations should see funds reallocated to cryptocurrencies. These rebalancing flows could help start a new leg higher for the asset, should the right catalyst arrive.