Recently, the precious metals sector has witnessed a shift, with gold and silver continuing to reach record highs, and copper prices also reaching historical highs, reflecting an increase in global risk appetite. In stark contrast, Bitcoin($BTC ) has dropped from its peak, even falling below $80,000 at times. The BTC/gold ratio has hit long-term support levels since 2020, indicating a temporary flow of capital into traditional safe-haven assets. The performance of BTC has significantly lagged behind commodities and U.S. equities.
Market sentiment is pessimistic, with extreme statements like "Bitcoin is dead" appearing on social media, along with widespread panic and a wait-and-see attitude. Data shows the buy/hold ratio for BTC is nearly 3, with retail investors dominating the buying positions, but institutional investment funds have seen net outflows, with nearly $600 million flowing out in just one hour, indicating significant selling pressure from institutions. Some KOLs suggest that the current price level is a very low bottom and expect a medium correction, but it is still advisable to maintain a defensive stance in the short term.
BTCUSDT
Perp
67,006.3
+0.35%