Gold and Silver Rise While Bitcoin Remains Range-Bound Amid Weak Demand

TLDR: 

• Gold and silver continue rising amid strong safe-asset demand and policy uncertainty.
• Bitcoin remains range-bound as short-term holders increase selling pressure.
• Apparent demand for Bitcoin has recently turned negative, limiting upward momentum.
• Institutional capital favors gold and silver, keeping Bitcoin’s short-term gains capped.

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Gold and silver have maintained upward momentum over the past three months, while Bitcoin remains largely range-bound. 

Market conditions reflect safe-asset flows, weaker short-term Bitcoin demand, and the influence of short-term holder activity.

Safe-Asset Demand Supports Precious Metals

Gold and silver have seen consistent support due to increased demand amid geopolitical tensions and policy uncertainty. Investors continue shifting capital toward traditional safe assets, reflecting expectations of lower real interest rates. Silver has benefited further from tighter supply conditions and higher speculative sensitivity.

CryptoQuant.com analyst, XWIN Research Japan, reported that gold and silver continue rising while Bitcoin remains range-bound. 

This trend reflects a structural preference for precious metals by institutional capital. Precious metals have a long-term buyer base, making them less sensitive to price fluctuations. This stability contrasts with Bitcoin, which remains more influenced by short-term positioning.

Institutional investors can easily allocate funds to gold and silver, contributing to sustained upward pressure. 

The combination of safety, liquidity, and lower volatility encourages ongoing investment in these metals. As a result, gold and silver maintain steady growth even when other risk assets face uncertainty.

Bitcoin Faces Limited Upside Due to Weak Demand

Bitcoin has not mirrored the gains in gold and silver because it remains a high-beta risk asset rather than a primary safe haven. 

Risk-off environments drive capital first to gold and government bonds, leaving Bitcoin as a secondary option. Its market movement depends heavily on marginal demand and short-term holders.

CryptoQuant data supports this perspective. Apparent Bitcoin demand has recently turned negative, suggesting limited expansion of new buying interest. 

In addition, Short-Term Holder (STH) SOPR has frequently remained below 1, indicating that short-term holders are selling at a loss or near breakeven, adding pressure on the market.

XWIN Research Japan noted that Bitcoin’s price action reflects weak internal demand, which caps its short-term upside. 

Unless apparent demand turns positive and STH SOPR stabilizes above 1, Bitcoin may continue consolidating. The current divergence with gold and silver emphasizes Bitcoin’s sensitivity to short-term market behavior rather than macro tailwinds.

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