Gold is winning the fear trade as crypto bleeds

Group 1: Crypto Market Dynamics - Crypto ETFs experienced significant outflows of $1.73 billion last week, marking their worst week since mid-November 2025, following a previous week's inflow of $2.2 billion, indicating fragile sentiment in digital asset markets [2][3] - The largest outflows were from Bitcoin, which saw withdrawals of approximately $1.09 billion, and Ethereum, which recorded about $630 million in outflows, while altcoins showed mixed results [3] - Major issuers faced substantial outflows, with BlackRock's iShares crypto products leading at $951 million, followed by Fidelity Investments with $469 million, and Grayscale Investments with $270 million [5] Group 2: Market Influences - A combination of macroeconomic factors and market-specific pressures contributed to the outflows, including dimming expectations for interest rate cuts, negative price momentum, and frustration over crypto's lack of benefit from the broader "debasement trade" [4] - Total crypto fund assets under management decreased to $178 billion, down from $193 billion the previous week, reflecting the impact of the outflows [6] Group 3: Gold Market Performance - In contrast to the crypto market, gold prices surged past $5,000 per ounce for the first time, trading near $5,080, with a 15% increase over the past 30 days and year-on-year gains exceeding 80% [7] - The demand for gold as a safe-haven asset has been driven by geopolitical tensions, including U.S.-NATO friction and renewed trade threats from Donald Trump [7]