Editor’s Note
The simultaneous decline of gold, silver, and cryptocurrencies is a rare event that signals heightened market volatility. This article explores whether this represents a brief correction or a deeper shift in the macroeconomic landscape.
For several trading sessions, a wave of volatility has hit the financial markets. Gold, silver, and cryptocurrencies are recording simultaneous declines, a rare phenomenon that is concerning investors. This correction raises a key question: are we witnessing a simple technical adjustment or a more profound shift in the macroeconomic climate?
The session of February 2, 2026, marks a brutal turning point for so-called alternative assets.
Silver experienced an even more violent movement, with a massive correction that plunged it back below $75, erasing a large part of its gains from recent months. This bearish dynamic was not limited to precious metals.
This simultaneous movement is striking. Gold is historically seen as a safe-haven asset, while Bitcoin is often presented as its digital equivalent. Yet, in the current context, these assets are moving in the same direction, revealing a growing correlation with traditional financial markets.
The violence of the correction is partly explained by a chain liquidation phenomenon. After a long phase of rising prices, many leveraged positions were forced to close. These forced sales amplified the decline, causing a massive loss of market capitalization in just a few sessions.
Behind this widespread correction lies an increasingly tense macroeconomic context. Investors are currently reassessing their expectations regarding US monetary policy.
A strong dollar reduces the appeal of precious metals for international investors. It also pushes some capital towards assets offering yield, to the detriment of assets perceived as non-income producing. This dynamic largely explains the outflow of liquidity observed in recent days.
On the cryptocurrency side, the situation is paradoxical. Their growing institutional adoption has brought them closer to traditional markets. In times of global stress, they no longer systematically play their diversification role and now react like risk assets.
However, this correction does not necessarily call into question the long-term prospects. Some players believe that the fundamentals, particularly the structural demand for gold and Bitcoin’s growing place in the financial ecosystem, could become drivers again when macroeconomic visibility improves.
