Bitcoin investors have recorded their first series of net losses over a 30-day period since late 2023, a significant shift from the previously dominated phase of profits. As per insights shared by Julio Moreno, head of research at CryptoQuant, the Bitcoin (BTC) rolling 30-day realized profit and loss metric has fallen below zero. This change suggests that Bitcoin sold on the blockchain during the past month was at a lower price than it had originally been purchased for.
“Bitcoin holders are realizing losses for the first time in a 30-day window since late December 2023,” - Julio Moreno
The latest metrics on realized profit and loss capture the overall profit or loss that all holders experience when they spend coins. A negative reading indicates that selling pressure is rising among those who purchased Bitcoin at higher price points, even though it does not always suggest a decline in prices.
Bitcoin net realized profit/loss metric. Source: Julio Moreno
Gold Reaches Unprecedented Highs Amid Global Tensions
As Bitcoin faces renewed pressures, gold has surged above $4,700 per ounce, reaching new record levels due to escalating geopolitical tensions that have redirected investors to safe-haven assets.
On Tuesday, spot gold touched an all-time peak of $4,701.23 before a minor retreat, with US gold futures also reflecting this upward trend.
The increase in precious metals is attributed to a decline in global sentiment following new trade threats from US President Donald Trump, asking for concessions from European partners regarding Greenland. This development has rekindled fears of a broader trade conflict.
“Last time we were here, BTC outperformed gold. It will be interesting to observe this shift as liquidity builds through 2026,” noted an analyst from Bitfinex.
Bitcoin to gold ratio. Source: Bitfinex
Spot Bitcoin ETFs See Significant Outflows
US-listed spot Bitcoin ETFs have also seen a noteworthy drop, with net outflows reaching $394.7 million on Monday, as reported by data from SoSoValue. This development halts a streak of inflows that had recently brought over $1.8 billion into these products.
“President Trump’s firm trading stance is causing the market to revert to a de-risking environment,” remarked Farzam Ehsani.
Ehsani pointed out that these tariff threats often lead to significant obstacles for digital currencies and other risk-associated assets.
