Bitcoin Isn't Digital Gold Anymore. It's a Tech Stock With an Identity Crisis.
Grayscale says bitcoin trades like a tech stock, not gold. ETF inflows are back but retail is fleeing. Here's what the data actually shows.
Grayscale just said what most people have been thinking. Bitcoin does not trade like gold. It trades like a beaten down software stock. And honestly? The data backs them up.
BTC is sitting around $68,300 this morning, stuck in a range that has got traders confused and sentiment indicators flashing red. The Fear and Greed Index hit 43. That is fear territory. Not panic, not greed. Just quiet, grinding uncertainty.
So what is actually happening here?
The Bounce That Was Not
Last week was ugly. Bitcoin slid into the low $60,000s in what felt like a capitulation flush. People sold hard and fast. Then it bounced to $70,000 over the weekend, and for about 48 hours, Crypto Twitter pretended everything was fine.
It was not fine. The bounce stalled at $71,000, and we have been drifting lower since.
