Bitcoin Realized Losses Emerge After Prolonged Profit Period
Bitcoin holders have realized net losses over a 30-day period, marking the first such stretch since late 2023. This development comes after more than two years where realized profits dominated the Bitcoin market.
According to data compiled by Julio Moreno, head of research at CryptoQuant, the Bitcoin (BTC) rolling 30-day realized profit and loss metric has fallen below zero. This indicates that coins transacted on-chain during the past month were sold at prices lower than their acquisition cost.
Moreno stated on X: "Bitcoin holders realizing losses, for a 30-day period since, late December for the first time since October 2023."
The net realized profit/loss metric quantifies the total profit or loss experienced by all holders who have spent their coins, as detailed by CryptoQuant. A negative reading does not necessarily signify a price decrease but rather suggests that selling pressure is increasingly originating from holders who purchased Bitcoin at higher price points.
Gold Surges to Record Highs as Geopolitical Tensions Escalate
In contrast to the renewed pressure on Bitcoin and other digital assets, gold has experienced a significant surge, surpassing $4,700 per ounce for the first time. This rally is attributed to increasing geopolitical tensions, which are driving investors towards traditional safe-haven assets.
On Tuesday, spot gold reached an all-time high of $4,701.23 before experiencing a slight decline. US gold futures also established new record values. Silver followed a similar upward trend, trading near historic highs after briefly touching $94.72 per ounce.
The ascent in precious metals occurred amidst a backdrop of deteriorating global sentiment. This sentiment was influenced by fresh tariff threats from US President Donald Trump, who warned of new trade measures against European allies unless Denmark agreed to sell Greenland. These developments have reignited concerns about a potential broader trade conflict.
The diverging performance between Bitcoin and gold has led to a sharp decrease in the Bitcoin-to-gold ratio, which has fallen by more than 50% from its peak, according to Bitfinex. An analyst noted on X: "Last time we were here, BTC went on to outperform gold. Worth watching this cross as 2026 liquidity builds."
Spot Bitcoin ETFs Experience Outflows Amidst Market Uncertainty
US-listed spot Bitcoin exchange-traded funds (ETFs) recorded net outflows totaling $394.7 million on Monday. This data, from SoSoValue, marks the end of a four-day streak of inflows that had previously brought over $1.8 billion into these products.
Farzam Ehsani, co-founder and CEO of Valr, commented on the market sentiment, stating that "President Trump's aggressive trading rhetoric is pushing the market back into full de-risking mode."
Ehsani further elaborated that historically, tariff threats and subsequent retaliatory measures have created "significant headwinds for digital and other risk assets."