Commodity Bloodbath Tests Bitcoin’s Next Move

A violent selloff in silver has rattled global markets, and historically, the cryptocurrency industry doesn’t ignore commodity stress for long. But as metals plunge, Bitcoin (BTC) is flashing early technical rebound signals.

This has put traders at a rare macro crossroads, leaving them to wonder if falling commodities still drag the crypto market lower, or if Bitcoin is starting to decouple.

What the Charts Are Telling

Over the past two trading days, silver prices collapsed by more than 40%, triggering forced liquidations and sharp volatility across commodities. 

According to an analysis shared by renowned crypto expert Michaël van de Poppe in an X post on February 2, the move qualifies as a “massive bloodbath,” noting that crypto often follows commodities during broad risk-off phases.

Bitcoin reacted over the weekend, but the price action has since stalled, whereas commodities absorbed the heaviest selling pressure. That divergence matters as commodities are typically a leading stress indicator, reflecting tightening liquidity and macro repositioning before risk assets fully respond.

Van de Poppe argues that once commodities finally stabilize, crypto has historically outperformed in the rebound phase, but timing remains uncertain.

Why Bitcoin’s Signals Complicate the Picture

Though macro pressure is rising, Bitcoin’s technical structure is sending a different message. Fellow crypto specialist Ali Martinez points to multiple TD Sequential buy signals lining up on Bitcoin’s 12-hour chart, a setup that often appears near local bottoms rather than mid-trend weakness.

TD signals don’t predict magnitude, but they frequently flag exhaustion in selling pressure. In practical terms, this suggests Bitcoin may be absorbing macro stress faster than commodities, even as silver continues to unwind.

That tension creates a narrow decision window. If commodities extend their decline, Bitcoin’s signals risk failing. If metals stabilize, crypto could regain leadership as capital rotates back into higher-beta assets.

What Happens Next

For the time being, BTC is trading at the price of $78,892.63, recording a 2% increase on the day, whereas it has declined 9.8% across the week, and lost 12.4% over the past month, according to the most recent chart information.

In this test of sequencing, where there’s no clean bullish or bearish setup, commodities are still searching for a bottom, and Bitcoin is already hinting at one. Traders watching both markets are less focused on predictions and more on confirmation of stabilization in metals, followed by sustained BTC strength.

Until that happens, volatility remains the dominant signal as opposed to direction.

Bitcoin Price Today

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