Precious metals surge as Bitcoin lags amid weakening demand

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Precious metals are experiencing a historic rally, while Bitcoin remains on the sidelines. Gold is up more than 25% this month and nearly doubled over the past year, while silver has surged to record levels, fueled by concerns over currency stability, geopolitics, and confidence in institutions.

Bitcoin, despite its theoretical appeal as a hedge against debasement, has failed to attract similar inflows. Spot Bitcoin ETFs have seen persistent outflows, with total assets down roughly 32% from their October peak. Measures of US institutional demand have turned negative, while on-chain data shows retail participation declining steadily.

The divergence highlights a structural challenge for crypto. As investors seek safety, capital is flowing into traditional stores of value, leaving Bitcoin caught between its risk-asset behavior and its unproven safe-haven narrative.

[bonk]

gold doing a v-shaped recovery while btc just kinda sits there is not a great look for the hedge narrative