Data: 70.07 BTC transferred from an anonymous address, valued at approximately $2.21 million

Altcoins fall to historic lows against gold, Bitcoin's "technology assetization" signal reappears

February 10 News, as the spot gold price approaches $5,000 per ounce, the valuation gap between altcoins and gold has widened sharply. Crypto analyst Michaël van de Poppe pointed out that the current "altcoin-to-gold" ratio has fallen to its lowest historical level, with the weekly RSI dropping to 25, approaching the extreme levels seen during the 2020 pandemic black swan event. This indicator is seen as a "structural low-price" signal for non-mainstream crypto assets relative to precious metals. Against the backdrop of a strong rally in gold, RWA tokens linked to physical gold have become some of the few contrarian assets. PAX Gold (PAXG) fluctuates around $5,035, with a daily trading volume exceeding $400 million; Tether Gold (XAUT) remains around $5,013, with a nearly 11% increase over the past month. However, from a global perspective, the market size of tokenized commodities is only about $800 million to $1 billion, still very limited compared to the trillions of dollars in the global spot gold market.

Is Bitcoin more like tech stocks rather than digital gold? Grayscale reveals the true underlying factors behind it

Despite continuous positive signals such as ETF approvals and institutional adoption, since mid-last year, funds in the crypto market have been steadily flowing out, and Bitcoin's price performance has been more similar to high-growth software stocks in the US rather than traditional safe-haven assets. Grayscale's latest research indicates that the correlation between Bitcoin and the US software sector has significantly increased, showing that its trading logic is more aligned with growth assets. Data shows that from the beginning of 2024 to now, Bitcoin and US software stocks have moved in highly synchronized patterns. During recent sell-offs, both have fluctuated almost in the same direction, indicating that this round of decline is more due to a broad de-risking of growth assets rather than issues specific to the crypto industry itself. Fund flows also confirm this: US investors led the recent sell-off, with related Bitcoin ETPs experiencing approximately $318 million in net outflows since early February, further suppressing prices.

Hyperscale Data Bitcoin holdings increase to approximately 589 coins, with a market value of $41.4 million

Hyperscale Data, a company under the New York Stock Exchange, announced that its Bitcoin treasury has increased to 589.4502 BTC, with a total market value of approximately $41.4 million. Its wholly-owned subsidiary Sentinum holds 548.5903 BTC and plans to increase the value of its Bitcoin assets to $100 million.