Since the beginning of the year, BTC has lost about 10%, while gold has risen by 20%. The decline of Bitcoin after the start of the tariff war is now between Nasdaq and oil, indicating a partial recovery, but it still does not show the behavior of a safe-haven asset. The digital asset market is in a cooling phase - the accumulation rates of whales are the lowest since February 2025.

Nevertheless, institutional flows dominate the Bitcoin markets, shifting behavior from speculative spikes to sustainable, structured growth. The current correction is not a mass exodus of smart money - rather, it is a reaction from nervous short-term and medium-term holders.

The number of active cryptocurrencies on CoinMarketCap continues to decline. BTC + stablecoins now account for over 72% of the market - the highest level since 2020 - showing that this cycle is led by Bitcoin and stablecoins. As we can see, opportunities for altcoins are severely limited.