Rich by Coin

Gold’s surge above $5,000 an ounce is increasingly seen as a durable regime shift, with investors treating the metal as a persistent hedge against geopolitical risk, central bank demand and a weaker dollar. Bitcoin is stuck near $87,000 in a low-conviction market, as on-chain data show older holders selling into rallies, newer buyers absorbing losses and a heavy supply overhang capping moves toward $100,000. Derivatives and prediction markets point to continued consolidation in bitcoin and sustained strength in gold, with thin futures volumes, subdued leverage and weak demand for higher-beta crypto assets like ether reinforcing the cautious tone. Onchain indicators suggest the divergence reflects market structure rather than sentiment alone.

In its latest report, CryptoQuant says bitcoin holders have started selling at a loss for the first time since October 2023, with older buyers exiting positions and newer holders stepping in, a pattern that typically marks a market moving into consolidation rather than acceleration. Glassnode says the market is being held back by supply, with rallies repeatedly running into sellers near the prices where recent buyers originally bought in. Options and prediction markets reinforce that view: the market is pricing gold’s strength as persistent while fading expectations for a near-term resurgence in bitcoin rally. Gold is absorbing macro stress, while bitcoin remains in digestion mode, working through internal supply rather than responding to external catalysts.

Bitcoin is trading around $87,000, struggling to gain traction as overhead supply, thin participation, and subdued leverage keep rallies vulnerable to renewed distribution. Ether is underperforming bitcoin, with price action reflecting weak demand, muted derivatives participation, and little sign that investors are rotating meaningfully back into higher beta crypto assets. Gold surged to a fresh record above $5,000 an ounce as investors piled into the metal amid rising geopolitical flashpoints, sustained central bank buying, and a weaker U.S. dollar, reinforcing its role as a durable hedge against global risk. Bitcoin’s on-chain data points to supply overhang and weak participation, while gold’s breakout is priced by markets as a durable macro regime shift.