Bitcoin and the broader cryptocurrency market have shown signs of weakness amid softening macro trends in global asset markets. Bitcoin has remained rangebound and failed to mount a rebound, while silver prices surged to fresh highs. On the Binance USDT market, Bitcoin traded around $87,000 with little volatility. Ethereum and other major altcoins have not demonstrated clear upside momentum.
Peter Schiff, a longtime Bitcoin skeptic, said a substantial capital shift is underway. He warned that the rapid rise in silver could exert an opposing influence on Bitcoin, as investors move toward real assets and away from assets without intrinsic value. In the crypto space, demand for tokenized real assets has grown, with the tokenized commodities market approaching $4 billion. Even as blockchain technology underpins these investments, more investors appear to favor tangible assets such as gold and silver.
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