#大户持仓变化 $BTC

Bitcoin's purchasing power relative to gold is rapidly shrinking, and recent data has definitely made holders a bit uneasy.

📉 Two numbers stand out:

· Currently, one Bitcoin can buy about 19 ounces of gold, whereas in January this year, it could buy nearly 38 ounces—this means the value compared to precious metals has been halved.
· The situation against silver is even more dramatic; from the peak in May, its purchasing power has shrunk by two-thirds.

In other words, if you've been viewing Bitcoin as "digital gold," it now seems to have degenerated into the role of "digital silver."

Looking back, during the lowest point of the 2022 bear market, one Bitcoin was worth only 9 ounces of gold, so its current position is still more resilient than back then. However, the speed of this decline is indeed enough to make people nervous. The underlying logic is simply two forces pulling:

✨ One is the strong rebound of traditional precious metals: global situations are full of uncertainties, and gold's safe-haven attribute is shining again, while silver is also rising due to industrial demand. These two are like seasoned "old money," low-profile but resilient.

⚡ The other is the adjustment phase in the crypto market: Bitcoin is easing from its highs, and market funds may be quietly reallocating. It’s like a rising star with unshaken momentum, but temporarily needs to rest.

This ratio fluctuation essentially reflects the market re-evaluating value. It’s not about one asset winning or losing, but about different assets playing different roles in different cycles—this is the true path to balance. Current investors seem to be actively rebalancing between "traditional safeguards" and "digital innovation" to see which can better support the bottom. This silent contest of value feels like it’s just beginning.