Physical gold is seeing outflows too.
U.S. gold ETFs saw net outflows of about $490 million last week. On-chain gold tokens are hovering around 4,060, down only about 1.2% in a day, while the long-to-short ratio in futures accounts has climbed to 2.84, tilted toward longs. Safe-haven assets aren't rising, yet longs are still piling in—this disconnect is more striking than a simple sell-off, so don't rush to treat it as a safe haven in the short term.
$PAXG #U.S. stocks shed over $2 trillion overnight, with multiple hedge funds facing liquidation
U.S. gold ETFs saw net outflows of about $490 million last week. On-chain gold tokens are hovering around 4,060, down only about 1.2% in a day, while the long-to-short ratio in futures accounts has climbed to 2.84, tilted toward longs. Safe-haven assets aren't rising, yet longs are still piling in—this disconnect is more striking than a simple sell-off, so don't rush to treat it as a safe haven in the short term.
$PAXG #U.S. stocks shed over $2 trillion overnight, with multiple hedge funds facing liquidation
