Opinion: Bitcoin retail buying has hit rock bottom, with gold and silver diverting market attention.

According to a report by Business Insider on December 8th, Joe Ciolli, author of the "First Trade" column, stated that while Bitcoin has risen in tandem with US stocks over the past decade, since 2025, US stocks have achieved double-digit percentage gains, while Bitcoin remains in a loss-making range. One reason for this is the disappearance of retail bargain hunting. Their sentiment towards Bitcoin has cooled sharply, directly reflected in the slowdown in ETF inflows. Another possibility is that the surge in popularity of precious metals like gold and silver, which both hit new highs this year, has diverted some attention. Some argue that, at least for now, they have replaced Bitcoin's role in investment portfolios. Joe Ciolli added that the recent decline in Bitcoin may have served to weed out some weak-willed speculators. Those still holding Bitcoin today are mostly staunch long-term supporters, a large portion of whom may have held it for a considerable period. If Bitcoin can overcome some of its inherent concerns, such as potential forced selling by large institutional holders like Strategy, it could very well return to its position as a long-term partner to stocks, especially if interest rate cuts materialize as expected.