Following silver's recent record high near $83 and prior sharp correction from $82, Garret Bullish—the White House whale—predicts precious metals have topped, with capital now flowing into Bitcoin and other cryptocurrencies. Backed by his $10 billion portfolio's long positions and recent market data, this view emerges as Bitcoin nears $90,000 amid ETF inflows.
The ongoing tug-of-war between precious metals and cryptocurrencies continues, building on silver's volatile path: a peak near $82 followed by a plunge below $75, a new all-time high of $83, and now signs of exhaustion. Bitcoin, lagging behind at under $90,000, shows recovery potential as analysts forecast a capital shift.
Garret Bullish, the prominent analyst known as the White House whale for his timely trades—including a $160 million profit shorting Bitcoin before Trump's China tariffs—remains bullish. 'At today’s market open, capital has already started rotating into crypto. Even with equities selling off, crypto kept pushing higher,' he posted on X, anticipating a Bitcoin short-squeeze.
Arkham data underscores his conviction: Bullish manages $10 billion, with $70 million gains on longs in Bitcoin, Ethereum ($634 million position near breakeven at $3,000), and Solana. This aligns with historical patterns, like October's metals correction sparking a 7% Bitcoin rally, and recent Bitcoin ETF inflows of $458 million for the week ending January 2, 2026—contrasting declining gold ETF flows.
Bitcoin trades at $89,900, up 2% early in 2026. Key catalysts loom: MSCI's potential delisting of Bitcoin treasuries on January 15 and the Fed's rate decision on January 28. While metals' dominance has pressured crypto, Bullish's analysis suggests the rotation is underway, echoing 2020 cycles where metals led before risk assets surged.
