Bitcoin Struggles as Gold Reaches Record High
- Bitcoin (BTC) is down over 10% year-to-date, trading around $84,000.
- Gold has surged nearly 13%, reaching $3,000 per ounce on March 14.
- US spot gold ETFs have attracted over $6 billion in inflows YTD.
- US spot BTC ETFs have experienced nearly $1.5 billion in net outflows YTD.
- The total crypto market cap has decreased by over $600 billion this year.
Bitcoin’s underperformance compared to gold highlights a shift in investor preference towards risk-off assets, with significant capital inflows into gold ETFs and outflows from BTC ETFs. The total crypto market cap now stands at approximately $2.8 trillion.
Source (2.6)https://www.newsbtc.com/bitcoin-news/bitcoin-breaches-12-year-support-line-against-gold-is-the-bull-run-over/?rand=52377
