Bitcoin Stuck in Neutral, But This Gaming Token Is Going Parabolic
The post Bitcoin Stuck in Neutral, But This Gaming Token Is Going Parabolic appeared on BitcoinEthereumNews.com.
In brief Bitcoin remains trapped in bearish territory below the death cross with weak momentum despite reclaiming $90K. Meanwhile, GameFi tokens lead crypto gains, outpacing Bitcoin’s sideways grind. Axie Infinity (AXS) surged 131% this week, and more than 250% in the last month. While Bitcoin struggles to break out of a multi-month consolidation pattern, trading in the $90,000 zone with bearish charts intact, a different corner of crypto is absolutely ripping. GameFi tokens are posting double-digit gains this week, led by a stunning 131% weekly surge in Axie Infinity and a very solid bounce by The Sandbox. The broader market backdrop is wild. Gold pierced $4,900 per ounce for the first time ever on Thursday, while silver broke past $99—both metals hitting all-time highs as investors rotate out of risk assets. The S&P 500 is headed for its second consecutive weekly decline after President Donald Trump’s Greenland rhetoric and proposed E.U. tariffs sparked a sell-off earlier this week. Goldman Sachs is now calling for gold to hit $5,400 by year-end as the “debasement trade” accelerates. Bitcoin (BTC) price: Death cross deadlock Bitcoin is up a modest 1.6% today, trading at $90,895 after bouncing from Wednesday’s lows around $88,000. That sounds fine on the surface, but the technicals show weakness and indecision among bulls, especially those betting on long-term plays. Bitcoin (BTC) price data. Image: Tradingview The most glaring issue is the bearish pattern that traders refer to as a “death cross,” which formed on Wednesday after invalidating a “golden cross” attempt that only lasted a few days. When the average price of Bitcoin over the last 50 days (also known as the 50-day EMA, or EMA50) sits below the 200-day average, that forms a death cross—a bearish configuration that typically signals downward pressure or at minimum extended sideways action. A…
Filed under: News - @ January 23, 2026 8:26 pm