BloFin finds capital shifting from Bitcoin and Ether into gold and silver

Beincrypto reports BloFin Research found that the first week of 2026 highlighted a shift in capital preference away from major cryptoassets and toward gold and silver as the macro narrative moved from "growth and inflation" to "institutional and governance risk." BloFin attributes the repricing to USD‑denominated leverage and institutional behaviour: during last April’s "Liberation Day" rally BTC briefly stabilised and later printed a new high of $126k as open interest in BTC Delta 1 contracts rose from about $46bn to more than $92bn from March to October 2025.

As USDT/USDC and other stablecoins have entrenched USD‑settled leverage, BTC and ETH are increasingly treated like high‑volatility dollar beta, while gold remains driven more by spot supply and demand, retains monetary characteristics and is widely accepted as collateral. BloFin highlights the widening gap in returns: silver rose 165.78% over the year while ETH fell 5.01%.

What happens next depends on leverage and macro conditions: options markets remain structurally bearish on BTC and ETH and BloFin notes implied forward returns compressed to about 5.06% for BTC and 3.93% for ETH amid a roughly 4.2% 10‑year Treasury yield.

Key Topics

Crypto, Bitcoin, Ether, Gold, Silver, Stablecoins