A comparative chart of Bitcoin and gold clearly shows the moment their trends diverged in mid-October. That's when, according to analysts, crypto investors pulled out and placed $19 billion into gold in a single day. Since then, the trend of shifting capital from crypto into precious metals has been consistent.

This phenomenon has led to Bitcoin losing its allure as an investment innovation. According to Bloomberg Intelligence analyst Mike McGlone, the cryptocurrency is no longer seen as an alternative to the traditional financial system.
The sentiment among institutional investors has also shifted. It was their ETF investments that drove Bitcoin to new all-time highs in 2025.
According to UBS Chairman Sergio Ermotti, more and major investment funds and venture firms are focusing on the quantum threat to cryptocurrency blockchains. Bitcoin and Ethereum developers have yet to provide convincing proof of protocols or updates that would protect public keys from being hacked via quantum computing. This is prompting institutions to take profits and reduce their positions on every bounce.
However, institutional investors aren't speaking openly about their fears. You won't find these concerns in their public analysis. Venture investor Nic Carter explains this as a reluctance to cause panic when billions have been invested in the crypto industry.
So, we shouldn't expect a Bitcoin collapse just yet. Institutions skillfully pumped the BTC price early this year to paint a pretty picture of a breakout from the sideways channel on the chart. This allowed them to attract new buyers, whose capital they then used to exit part of their own position.

Now, they will work to keep Bitcoin's price above the lower boundary of the sideways channel. This will show the "hamsters" (retail traders) that the uptrend is still alive.
If the argument of bitcoin losing the investment allure is only for 1 to 2 years, I very much agree. However, if the argument that it has lost the allure because there is something much better, I very much disagree on this. The cryptospace market will certainly find the lowest floor price before it can pump again. We can be certain on this.