Within the last seven days, BTC has taken a backseat while gold performed well. The precious metal has taken some share of bitcoin’s status as a store of value, surging by more than 20%. BTC, on the other hand, is down at least 14%, triggering a shift in investor sentiment.
Glassnode analysts say the change in market sentiment has been reflected in the options market. Bitcoin’s dip, especially the last overnight decline, came with a wave of macro uncertainty, and investors have been altering their positions to navigate the current environment better.
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