Gold and silver saw a retracement earlier today, Jan. 22, 2026. Both assets have been hitting multiple all-time highs over the last few months. Gold and silver climbed to new peaks on Jan. 21, breaching the $4700 and $95 price levels, respectively. The latest price dip comes after President Trump canceled his EU tariffs and announced a framework for the Greenland deal. With gold and silver dipping, will the cryptocurrency market pick up steam? Let’s discuss.

Will The Cryptocurrency Market Take Off After Gold And Silver Face Price Dips?

The cryptocurrency market took a hit late last year due to rising macroeconomic uncertainties. Market participants began a risk-off approach, opting for safe havens such as gold and silver. The dip in cryptocurrency prices coincided with a surge in gold and silver prices. With both precious metals facing a dip, there is a possibility that investors will reallocate funds into more risky assets. We could see the crypto market enter another bullish phase if investor sentiment improves.

Moreover, the Federal Reserve began its liquidity injection on Jan. 20, 2026, putting in $8.3 billion of its total $55 billion plan. Federal Reserve interventions have often led to a rally in the cryptocurrency market. Bitcoin (BTC) briefly fell to the $87,000 price level, but has since reclaimed the $89,000 mark. The slight recovery could be a signal that the market is recovering slowly. However, we are still quite far from fully recovered.

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Despite these developments, the cryptocurrency market remains quite fragile. Global geopolitical tensions and macroeconomic uncertainties continue to bar investors from taking big risks. Moreover, the Federal Reserve has yet to announce an interest rate cut in 2026. Given the larger bearish environment, the cryptocurrency market may continue on a sideways path over the coming weeks.