Gold and silver have continued climbing through December 2025 as Bitcoin (BTC) trades sideways, reflecting a clear split in how investors are positioning across safe and risk assets.
The difference shows a larger change in how the market is acting, with investors choosing precious metals when things are uncertain, while Bitcoin is facing lower activity and weaker demand.
Safe Assets Pull Ahead as Bitcoin Stalls
Recent commentary from XWIN Research Japan described the current setup as a prolonged consolidation phase for Bitcoin following a high-level correction.
Over about three months, the prices of gold and silver have kept pushing higher, while BTC has remained largely range-bound. XWIN analysts attributed this gap to geopolitical tension, policy uncertainty, and expectations for lower real interest rates, conditions that traditionally benefit precious metals with long-standing institutional demand.
Silver has also outperformed gold at times, helped by tighter supply and stronger sensitivity to speculative positioning. Meanwhile, according to XWIN, Bitcoin has continued to trade more like a high-volatility risk asset than a defensive store of value, and in risk-off environments, funds often rotate first into gold and government bonds, leaving BTC as a secondary choice rather than a primary hedge.
On-chain data adds weight to this narrative, with CryptoQuant figures referenced by XWIN showing Bitcoin’s apparent demand turning negative. It means fresh buying interest has not kept pace with supply, even as prices stayed elevated. Furthermore, extended periods of the short-term holder SOPR below 1 suggest many recent buyers are selling at a loss or close to break-even, creating pressure for the price during rebounds.
That weakness fits with a broader cooling in network activity. Analyst CryptoOnchain recently noted that Bitcoin’s 30-day average of active addresses has fallen to about 807,000, the lowest level this year. Additionally, exchange data from Binance shows both depositing and withdrawing addresses sliding to similar lows. According to the market observer, long-term holders are not rushing to sell, but aggressive accumulation has also paused, leaving the market in a standstill.
Price Action, ETFs, and the Longer-Term Outlook
Bitcoin’s muted performance comes after a difficult end to the year. As CryptoPotato reported, BTC is heading for its weakest fourth quarter since 2018, down nearly 22%, with prices trading between $85,000 and $90,000. However, not all analysts view the consolidation as purely negative. Crazzyblockk argued that spot Bitcoin ETF flows still provide underlying support. Using an ETF Flow Impact Score model, they showed that Bitcoin’s current price sits close to an estimated fair value of around $88,000, suggesting little speculative excess compared to earlier in the year.
This outlook contrasts with sentiment around metals, amplified by figures like Peter Schiff, who celebrated gold breaking above $4,400 yesterday and questioned whether $5,000 gold would arrive before a huge Bitcoin drop. But while such debates continue, the data shows a simpler story: gold and silver have benefited from steady safe-asset demand, while Bitcoin has had to wait for stronger participation to return before its next decisive move.
The post The Real Reason Bitcoin Is Lagging Behind Gold Right Now appeared first on CryptoPotato.
