TLDR:
- Gold has risen 36.8% year-to-date while silver leads with 41.2%, both driven by weakness in the U.S. dollar.
- The Nasdaq is trading at 23,739 and the S&P 500 at 6,488, both near all-time highs in 2025.
- Bitcoin holders sold roughly 230,000 BTC in the past 30 days, straining price support around 112K BTC.
- The September 17 FOMC decision will likely shift the U.S. dollar, equities, and crypto markets in real time.
Markets are facing sharp crosscurrents this year. The U.S. dollar has lost strength while political risks mount in Europe. Traditional safe-haven assets like gold and silver have gained, drawing investor attention away from other markets.
Equities in the United States are also trading near record levels. Yet Bitcoin has failed to keep pace, weighed down by heavy selling from long-term holders.
Gold and Silver Prices Surge as Dollar Weakens
CryptoQuant reported that gold is up 36.8% this year, while silver has climbed 41.2%. Analysts explained that investors often shift to hard assets when the dollar loses value.
Since both metals are priced in U.S. dollars, weakness in the currency has magnified demand. Traders described the move as a classic hedge in uncertain macro conditions.
Hectic Macro Shifts
– U.S. dollar shows signs of weakness
– France is facing political risk and rising debt-to-GDPWhat’s happening? 👇🧵 pic.twitter.com/wSvZfYEtet
— CryptoQuant.com (@cryptoquant_com) September 10, 2025
Equity markets also remain strong. The Nasdaq recently traded at 23,739 while the S&P 500 sat near 6,488. Both indexes are close to their all-time highs. Despite high valuations, demand for U.S. stocks remains intact, reflecting confidence that the economy can still absorb risks.
The divergence between metals and digital assets is growing. While gold and silver attract inflows, Bitcoin is struggling to hold ground. Analysts have pointed to ongoing supply pressure as a key factor.
Bitcoin Price Faces Pressure from Holder Selling
CryptoQuant data showed that long-term holders sold around 230,000 BTC in the past month. This has created a heavy drag on price action, as new demand has not fully absorbed the supply.
The market is now finding balance near 112K BTC, the level seen at the last all-time high. Traders believe this support is critical for near-term direction.
The low correlation between Bitcoin, gold, and equities adds another challenge. In past cycles, Bitcoin often tracked risk assets or hard assets during shifts in the macro environment. This year, the connection has weakened.
Market participants view this as a sign that crypto is charting its own path, but it also means less support from broader market rallies.
Matthew Dixon, a veteran trader, raised concerns about a deflationary recession. He explained that falling demand, high debt, and tighter monetary policy can spark a cycle of weaker prices and slower growth. He argued that many of these factors are already visible in the current economy.
My concern about the economy: A #deflationary #recession……
When the economy contracts while prices fall instead of rise.It’s a dangerous cycle because falling prices can worsen the slowdown. Here’s how it typically starts:
1. Triggering Shocks
Demand collapse: A financial… pic.twitter.com/7lzR6TJ2UV— Matthew Dixon – Veteran Financial Trader (@mdtrade) September 10, 2025
The Federal Reserve’s next policy decision could reshape expectations. The FOMC is set to meet on September 17. Its statement and press conference will influence the U.S. dollar, equity markets, and crypto.
Investors across sectors are waiting for clarity before making their next move.
