Table of Contents
Defensive Assets Stay in Favor
Market flows continue to favor traditional safe-haven assets. Gold and silver are maintaining strong support as investors allocate capital toward defensive instruments amid macro uncertainty and risk aversion.
Bitcoin Demand Remains Subdued
In contrast, Bitcoin is struggling to attract meaningful fresh demand. On-chain behavior shows limited accumulation, with new buyers hesitant to step in at current levels, keeping upside momentum constrained.
Short-Term Holders Add Selling Pressure
A notable source of pressure comes from short-term holders, who are more sensitive to price fluctuations. Their increased distribution during recent pullbacks has contributed to Bitcoin’s inability to build a sustained rebound.
Diverging Paths Between Crypto and Metals
This divergence highlights a split in investor sentiment. While precious metals benefit from their long-standing role as stores of value during periods of uncertainty, Bitcoin is currently treated more like a high-beta risk asset, lagging behind defensive alternatives.
BTCUSA Insight
As long as capital continues to rotate into gold and silver, Bitcoin may remain range-bound. A shift in risk appetite or a resurgence in spot demand will likely be required before BTC can challenge higher resistance levels again.
