Silver Hits Record Above $121 as Bitcoin Drops Toward $82,800 in Diverging 2026 Trades

In late January 2026, silver and Bitcoin have moved in sharply different directions, with silver briefly topping $121 per ounce before retreating and Bitcoin sliding toward $82,800. Silver remains up about 25% over the past month and more than 200% over the past year amid falling COMEX inventories and industrial demand, while Bitcoin trades over 34% below its October peak above $126,000 as tighter Federal Reserve expectations and broader risk-off sentiment pressure crypto markets.