BTC's not gold, and it's falling short for payments, too: Crypto Daybook Americas
Bitcoin is underperforming as both a store of value and a payment system, evidenced by declining on-chain activity.Summary
The article, a 'Crypto Daybook Americas' briefing, suggests Bitcoin is failing in its dual appeal as a digital gold substitute and a payments infrastructure. On-chain data shows a significant slowdown in network activity, with daily confirmed payments dropping to levels last seen in mid-2025, and the mempool drying up. This reduced adoption partially explains BTC's recent dull price performance, falling back to $87,500 after failing to sustain highs above $90,000 following the Fed's decision to hold interest rates steady. While gold and silver prices are rallying, potentially signaling inflation concerns that pressure risk assets like BTC, the overall crypto market saw declines, with memecoin and metaverse indexes falling sharply.
(Source：CoinDesk)