On April 21, 2025, in the morning session, spot gold prices broke through $3,370 per ounce, with New York gold futures simultaneously surging to $3,375.9, creating a new record in human financial history. Against the backdrop of escalating tariff wars with 25% on automobiles and 145% on semiconductors, gold's "hard currency" attribute is being re-evaluated as a "power chip".
VX: TZ7971
The rise may be due to Trump's statement about rule-making for gold holders.
Bitcoin: LTH Selling Pressure Bottoming Out and Bull Market Restart
While gold is soaring, Bitcoin quietly broke through $87,000, with a 24-hour increase of 2% and a weekly rebound of 5%. This is not only a technical breakthrough of the key resistance level of $86,000 but also implies a deeper on-chain data transformation.
Long-Term Holders' (LTH) "Holding Declaration"
On-chain data shows that the selling pressure of long-term holders (i.e., LTH holdings on exchanges) has dropped to the lowest point of 1.1% in the past year. This indicates that Bitcoin LTH holders are now choosing to hold assets rather than realize profits.
If these LTH exchange holdings further decrease to 1.0%, it will indicate that selling pressure has completely disappeared. Notably, this trend may encourage new investors to enter the market and continue accumulating, thereby creating a strong bullish momentum in the BTC market.
Most Bitcoin LTH entered the market at an average price of $25,000. Since then, CryptoQuant has recorded the highest LTH selling pressure at 5.6% when prices were $50,000 in early 2024 and 3.8% when prices were $97,000 in early 2025.
These two events are likely the main stages of long-term holders taking profits and intending to exit the market. Therefore, in the short term, this group of BTC investors is unlikely to trigger selling pressure again, which supports bullish sentiment, as long-term holders currently control 77.5% of Bitcoin's circulating supply.
Historical data shows a significant lagged correlation between gold and Bitcoin: whenever gold reaches a new high, Bitcoin typically follows and breaks its previous high within 100-150 days.
This correlation stems from their complementary roles during economic uncertainty. Gold, as a traditional safe-haven asset, usually first reflects inflation expectations and monetary easing signals; while Bitcoin, due to its supply rigidity and decentralized nature, becomes a "delayed force" under the narrative of "digital gold".
Volatility itself is a source of excess returns. This is not a simple fund rotation, but the collapse of the old order and the establishment of new rules. In this transformation, holding gold and Bitcoin essentially means holding the choice of monetary endgame.
Today's fear index is 39, still in a state of fear.
Bitcoin is about to reach 8.8, approaching the pressure zone I've been talking about between 8-8.8. Those who got in at 8.3 can actually exit now, and you can observe the breakthrough of 8.8 during the day. The current market has been moving within our analysis and as expected. In the previous morning report, I mentioned that UNI at 5 and JUP at 0.3 could be bought. Currently, UNI is at 5.4 and JUP is at 0.4. Those who bought these can continue to hold, with at least several times the potential. Replacing Old Bao probably can't be done right now, so this wave doesn't seem like it will directly surge upwards.
