The concept that traders would finally commerce their gold and silver for Bitcoin hasn’t occurred but. In actual fact, the other is happening. Up to now 12 months, as an alternative of crypto changing treasured metals, we’re seeing a development the place crypto cash strikes to gold at any time when the financial system will get shaky.
Whereas Bitcoin, Ethereum, and XRP costs have dropped, traders have shifted their capital into gold. That is occurring despite the fact that gold and silver have just lately been extra unstable than individuals are used to. Plainly when traders get nervous, they’re now preferring the normal security of metals over crypto.
Will this development change quickly? Some nonetheless imagine it can finally shift.
The BTC/gold RSI hit the bottom degree it EVER has been. If gold normies do not pivot to #bitcoin right here they are going to miss on generational wealth and face a giant roundtrip. pic.twitter.com/Miloq2PrM3
— M-log1 (@log1_053) February 4, 2026
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Promoting Strain Hits Bitcoin and Altcoins
Bitcoin value dropped to about $72,884 on February 3, its lowest value since November 2024. For the previous 5 days, it has stayed caught between $70,000 and $80,000. Ethereum additionally confirmed weak spot, falling to the $2,233 vary, whereas XRP stayed flat close to $1.60.
On-chain knowledge exhibits that enormous traders, or “whales,” are divided. One whale handle borrowed $20 million in USDT to purchase 8,806 ETH at a mean value of $2,271. Nonetheless, different massive gamers have been pressured to promote their positions attributable to liquidations. This blended exercise has stored the market from making an actual restoration.
After being dormant for 9 months, a whale has borrowed $20M $USDT to purchase 8,806 $ETH at a value of $2,271 over the previous 2 days.
At present, the whale holds 21,094 ETH, valued at $47.53M.
Handle: 0x5E90387025235d07576f80C76B3E57EC96547ec4 pic.twitter.com/Dql6iVyv0o
— Onchain Lens (@OnchainLens) February 4, 2026
One other U.S. Authorities Shutdown Triggers Threat-Off Flows
A serious purpose for this transfer away from crypto was the partial U.S. authorities shutdown that began on January 31. This occasion lasted about 4 days and affected a number of federal companies, creating uncertainty that delayed financial knowledge and regulatory actions.
Buyers pulled capital from danger belongings, together with crypto, resulting in substantial outflows from Bitcoin ETFs and widespread liquidations. The deadlock contributed on to the worth declines in Bitcoin and main altcoins.
Yesterday, President Trump signed a spending bundle handed by the Home, ending the partial shutdown. The deal funded most companies by way of the fiscal 12 months, with a short-term extension for the Division of Homeland Safety.
Crypto costs stabilized considerably following the information, with Bitcoin rebounding from its lows towards present ranges round $76,000.
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When Crypto Cash Strikes to Gold Merchandise
All this uncertainty will not be serving to in any respect. Crypto cash strikes to gold, pushing the metallic’s value again over $5,000 per ounce on February 4. What’s attention-grabbing is how this cash is shifting. Moderately than simply shopping for bodily bars, many crypto traders are shopping for tokenized gold like XAUT and PAXG.
Knowledge exhibits that a number of wallets spent tens of millions in stablecoins and even “wrapped” Bitcoin to purchase these gold-backed tokens. This exhibits that even individuals who desire utilizing the blockchain are presently selecting the soundness of gold over the volatility of the crypto market.
For now, gold stays the popular alternative when the political and financial atmosphere will get unpredictable.
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