Today’s WSJ has two interesting stories; unfortunately I’m out of gift articles (I thought it would reload today, but nooooo.)
Anyway, quick summaries:
Crypto is in the tank. So sorry.
The Vibe in the Crypto Market Right Now: ‘Stay Alive’
The pain in cryptoland has even hardc0re bitcoin fans worried about what’s next
The party in the crypto market is starting to feel like a distant memory.After a disappointing end to 2025, major cryptocurrencies have languished to start the new year. Bitcoin has shed roughly one-third of its value since hitting a record high in October through Friday, and sank further on Saturday.
The slump has continued even though stocks are still near records, with the gains broadening throughout the market and investors betting the economy will keep growing. A weakened dollar had also pushed investors toward alternative assets for safety in the so-called debasement trade.
Yet prices for cryptocurrencies have slid. On Saturday, bitcoin briefly dipped below the average price Michael Saylor’s Strategy has paid for the token, putting the crypto-treasury company’s bitcoin holdings underwater.
“It’s a mess out there,” said Gennaro Salemme, a 32-year-old car salesman in Chicago. “The vibe right now is ‘stay alive.’”
The Silver Market Is Messed Up. These Buyers Are Feeling the Pain.
Boom in precious metal, interrupted by Friday’s plunge, fueled frenzy among refiners and caused major pain for companies that need the stuff
Silver prices have shot up more than 250% in the past year to as high as $114 a troy ounce in New York trading. At their peak, they were up 63% in January alone. In China, where the metal is needed for solar-panel production and [coveted by speculators](https://www.wsj.com/finance/commodities-futures/silvers-runaway-rally-sweeps-up-amateur-investors-629799e7?mod=article_inline), silver futures have risen to even higher levels, above $140 on Thursday.Silver’s surge crumbled on Friday, when prices plunged more than 30% off the record highs, below $80 a troy ounce. The metal’s meteoric rise, analysts say, had been supported less by rising industrial demand or lack of supply, and more by speculators betting on a shifting global order and growing distrust of the U.S. dollar.
Some market participants say silver is behaving like “gold squared” and “gold on steroids.” Others have compared it to meme stock mania, or called silver the “devil’s metal” and “widow maker,” arguing that a future price drop will surely send many believers to hell.