Overview
- Gold and silver set fresh records this week, while Bitcoin’s gains trailed the precious-metals surge.
- Bitwise’s Matt Hougan says U.S. spot Bitcoin ETFs have bought more than 100% of newly issued BTC since 2024, creating scarcity that could intensify if long-term holder selling fades.
- Bitwise Europe’s André Dragosch reports gold tends to lead Bitcoin by roughly four to seven months based on causality tests.
- Deribit data shows traders loading high-strike Bitcoin calls and long-volatility positions into March 2026, signaling bets on sizable upside.
- Researchers caution Bitcoin’s buyer base is more leveraged and liquidity-sensitive than gold’s, leaving BTC more exposed to volatility and potential shifts in Federal Reserve policy.