Gold in “extreme greed” sentiment as it adds the entire bitcoin market cap in one day
CoinDesk
Gold surged past $5,500, adding a notional value equivalent to Bitcoin's entire market cap in one day, while crypto sentiment lagged.Summary
Gold experienced a significant rally, breaking $5,500 an ounce and increasing its notional value by approximately $1.6 trillion in a single day—a sum comparable to Bitcoin's entire market capitalization. This surge has pushed gold sentiment gauges into "extreme greed." In contrast, Bitcoin remained below $90,000, trading like a high-beta risk asset, which contrasts with the narrative that it should function as digital gold during times of fiscal uncertainty. The divergence suggests that marginal buyers seeking shelter are currently favoring physical assets like gold over Bitcoin, forcing the cryptocurrency to re-prove its value proposition as a store of value.
(Source：CoinDesk)