This article discusses how gold has significantly outperformed bitcoin since the launch of spot BTC ETFs, rising 58% while bitcoin fell 12%. Mark Connors explains that institutional investors prefer gold due to its established trust and infrastructure, while bitcoin lacks the same level of acceptance for trade and reserves. The recent decline in bitcoin's price is attributed to a liquidity squeeze, not a change in sentiment.

The crypto market has entered a state of "extreme fear" as Bitcoin falls below $100,000 for the second time this month. Contributing factors include profit-taking, institutional outflows, and low liquidity, with the Fear & Greed Index hitting a nine-month low. Overall, major cryptocurrencies have lost significant value amid rising macroeconomic uncertainty.

Bitcoin fell to around $75,700, marking its lowest point since April 2025, as profit-taking by long-term holders and a lack of new investment pressure the market. This decline has wiped out over $111 billion in crypto market value, with analysts predicting a prolonged period of sideways trading rather than a quick recovery.