By Barbara Kollmeyer
Bitcoin has lost some of the strength it gained over the weekend. Blame gold.
Bitcoin's recovery run has been stifled somewhat at the start of the week by a bounce in gold that has taken the precious metal back over $5,000 an ounce.
The price of the No. 1 cryptocurrency (BTCUSD) fell 2.5% to $68,777, with U.S. equity-index futures (ES00) (YM00) (NQ00) also poised for a softer start after a sharp rebound on Friday.
Over the weekend, bitcoin passed the $71,000 mark, after a dramatic week for many assets. Bitcoin last week suffered its worst week since the FTX collapse, dropping to $60,057. The crypto has been steadily falling since an October 2025 all-time high of $126,272.76, though some investors refuse to give up on the cryptocurrency.
One factor blamed for the crypto's sluggish performance on Monday was a landslide victory for Japan's conservatives, which helped boost the yen against the dollar DXY. That was contributing to a gain for gold (GC00) on Monday, which pushed back over $5,000 an ounce. And as some analysts said that news wasn't great for bitcoin.
&#34;While cryptocurrency prices have managed to bounce from last week's lows, there still seems no rush to pick up coins on the cheap. Gold's recovery back above $5000 threatens to stymie any crypto rebound before it even gets going,&#34; said Chris Beauchamp, chief market analyst at IG.
&#34;The world's focus is back on old-fashioned things like oil and gold, while the wave of the future commentary centers around AI and not cryptocurrencies. Ultimately though cryptocurrencies need bullish momentum, and despite the recovery last week that is still lacking,&#34; he told clients in a note.
-Barbara Kollmeyer
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(END) Dow Jones Newswires
02-09-26 0929ET

Bitcoin's recent rebound has been hindered by gold's rise above $5,000 an ounce. The cryptocurrency fell 2.5% to $68,777 after a weekend peak of over $71,000, following a significant drop last week. Analysts suggest that gold's recovery and a strong yen, influenced by Japan's political landscape, are dampening Bitcoin's momentum. Despite a bounce from last week's lows, there is a lack of urgency among investors to buy Bitcoin, as traditional assets like gold regain attention.

- Bitcoin's value has declined by 2.5% to $68,777 due to a rise in gold prices exceeding $5,000 an ounce and a lack of robust demand for cryptocurrencies.  
- The cryptocurrency market faced a turbulent week, with Bitcoin plummeting to $60,057 after experiencing its worst week since the FTX collapse, despite a brief bounce back over the weekend.  
- Analysts attribute Bitcoin's struggles to traditional assets gaining traction and a lack of bullish momentum, emphasizing that investor interest in cryptocurrencies remains weak.

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Bitcoin's attempt at a rebound runs into gold's recapture of $5,000