Bitcoin has entered a notable shift in market behavior, with holders recording their first sustained period of realized losses in more than a year, while gold continues to attract investors seeking stability amid escalating global tensions.
Recent on-chain data shows that Bitcoin’s 30-day realized profit and loss metric has turned negative, marking the first such occurrence since late 2023. This metric tracks whether coins moved on-chain were sold at a profit or below their original purchase price. A negative reading indicates that more sellers are exiting positions at a loss, often reflecting pressure from investors who bought at higher levels.
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Importantly, this does not automatically signal a sharp price drop. Instead, it highlights a change in who is selling, suggesting sentiment has weakened after a long period dominated by realized gains.
While digital assets struggle, gold has surged to fresh all-time highs, briefly trading above $4,700 per ounce. Rising geopolitical risks and renewed trade-war fears have pushed capital toward traditional safe-haven assets. Silver has followed a similar path, trading close to historic levels.
The contrast between Bitcoin and gold has driven the Bitcoin-to-gold ratio sharply lower, falling more than 50% from its peak. At the same time, spot Bitcoin ETFs recorded significant net outflows reflecting a broader move toward de-risking as global uncertainty intensifies.
Together, these trends underscore a market environment increasingly shaped by caution, liquidity shifts, and geopolitical stress.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.