Key Takeaways

Is Bitcoin showing signs of a bottom after the recent crash?

Yes, the Taker Buy Ratio has dropped to multi-year lows, and extreme fear often is a sign of a market bottom.

Are gold investors rotating into Bitcoin as a hedge?

Possibly. Tokenized gold is losing momentum, and interest in Bitcoin as a higher-beta safe haven is rising.

Gold’s rally appears to be losing steam, and investors are starting to look elsewhere for safety.

Bitcoin [BTC] is becoming an unlikely safe haven, with capitulation indicating a possible short squeeze. With sentiment turning, will BTC’s stint as digital gold come around faster than expected?

Capitulation hits BTC as sellers dominate

Bitcoin’s Taker Buy Ratio has plunged to around 0.47 — its lowest in years.