Oro Surpasses Bitcoin: How the Last 30 Years Chart Tells a New Market Story

The dynamics of the global financial markets are undergoing a significant transition. As investors seek safety amid increasing risk aversion, gold emerges as the winner of the week, with prices approaching $4,516 per barrel. Meanwhile, the gold chart over the past 30 years tells a fascinating story of how precious metals have returned to being the ultimate safe haven, surpassing cryptocurrencies in market favor. Bitcoin, the crypto market giant, instead drops to $78,550, marking a significant decline from recent peaks.

According to FxPro analyst Alex Kuptsikevich, “It is noteworthy that this movement occurred against the backdrop of a decisive rally in gold and other precious metals, as well as the dollar’s weakening momentum. This once again highlights the shift in underlying risk sentiment.” This change in sentiment marks a turning point in financial markets, where yield-seeking gives way to capital preservation.

When Gold Shines More Than Bitcoin: Market Divergence Analysis

The crypto market remains in its “overall weak tone,” with 16 CoinDesk indices down in the last 24 hours. The DeFi Select index is down 4%, while the metaverse sector loses over 3%. Ethereum, the second-largest cryptocurrency by market cap, falls to $2,410 (-8.60% in 24 hours), confirming an expanding bearish pressure across the entire crypto spectrum.

The divergence between gold and cryptocurrencies is not coincidental. The historical chart of gold over the past three decades shows how the precious metal has solidified its role as a safe haven, especially during macroeconomic volatility periods. Gold has risen 1.04% in futures, while silver gains 1.66%, confirming that precious metals are capturing the capital flow of risk-averse investors.

Although the DXY (Dollar Index) has fallen below 98.00, reaching nearly the lowest level since early October, this traditionally positive signal for cryptocurrencies is not generating the expected rally. The reason lies in the broader shift in market sentiment: investors, both institutional and retail, are prioritizing safety over growth.

The Gold Chart Over the Last 30 Years: How Safety Wins Over Risk

Examining the gold chart over the past 30 years offers a fascinating perspective on the evolution of capital protection tools. In the 1990s, gold was considered a relic of the gold standard; in the 2000s, it became the safe haven during the 2008 financial crisis; in the 2010s, it had to compete with emerging cryptocurrencies; in the 2020s, following the pandemic, it once again consolidated its dominant role.

Today, in 2026, the gold chart tells a story of cyclical revaluation. With prices approaching $4,516 per ounce, the metal has already gained significantly in this market phase, surpassing many analysts’ expectations. The contrast with Bitcoin’s trend is illuminating: while the gold price chart over the last 30 years shows an overall upward trajectory with periods of consolidation, Bitcoin’s chart remains volatile and subject to rapid corrections.

Kuptsikevich predicts that “in the coming weeks, we can expect an even sharper decline in cryptocurrencies, along with a spread of risk aversion toward stocks and currencies of developing countries.” This scenario further supports the thesis that gold, backed by decades of history as a safe haven, will continue to outperform.

What to Expect from Today’s Macroeconomic Data

Market sentiment in crypto remains gloomy as it awaits crucial macroeconomic data. Several important economic events are scheduled for today:

• US GDP (Q3): The preliminary estimate should show an annualized growth rate of 3.2-3.5%, a slowdown from 3.8% in Q2, but still solid compared to the historical average of 2.6% since late 2021. A weaker-than-expected reading could temporarily reignite interest in Bitcoin, though it will be interesting to see if support can hold above $90,000.

• Q3 PCE Prices (second estimate): Estimated at 2.9% overall, core at 2.9%. These inflation data remain crucial for monetary policy decisions.

• Consumer Confidence Index (December): Preliminary estimate at 92, which could provide further indications of domestic demand strength.

In traditional markets, S&P 500 and Nasdaq futures remain little changed, indicating a lack of directional clarity. The S&P 500 closed Monday up 0.64% at 6,878.49, the Nasdaq Composite up 0.52% at 23,428.83, while the DJIA gained 0.47% at 48,362.68.

Market Movements: Bitcoin, Ethereum, and Major Cryptocurrencies

Major Cryptocurrencies:

• Bitcoin (BTC): $78,550, down 5.18% in 24 hours (from weekly open)
• Ethereum (ETH): $2,410, down 8.60% in 24 hours
• Solana (SOL): $104.78, relatively stable
• Flare (FLR): $0.01
• NATIX: $0.00

The other 12 of the top 100 tokens by market cap continue to record significant losses, except HASH and RAIN, the only top 100 tokens to have gained more than 6% in the last 24 hours.

Stock Markets and Indices: Nikkei 225 closed nearly unchanged at 50,412.87, Hang Seng down 0.11% at 25,774.14, FTSE little changed at 9,869.30. Euro Stoxx 50 remains unchanged at 5,742.58. The 10-year US Treasury yield continues to decline by 2.6 basis points to 4.145%, reflecting a reduction in perceived inflationary pressure.

Safe Havens vs. Risk:

• Gold futures: +1.04% at $4,516.00
• Silver futures: +1.66% at $69.70
• DXY (Dollar Index): -0.39% at 97.90, highlighting dollar weakness

This picture confirms that capital flows are converging toward traditional safe havens, with gold benefiting from the combination of dollar weakness and rising risk aversion.

Technical Analysis and Trader Sentiment

Technical Analysis of Solana (SOL):

The daily chart of Solana shows an interesting dynamic: the price recently broke below a sideways consolidation pattern that lasted weeks, then rebounded the next day. This movement represents a classic “Wyckoff spring action,” a technical signal indicating seller fatigue and often preceding a trend reversal to the upside.

However, the bullish reversal requires confirmation through a breakout above the upper boundary of the channel formation. In the current systemic risk environment, even these positive technical signals are questioned by the overall negative market sentiment.

Bitcoin Statistics:

• BTC dominance: 59.58% (unchanged)
• ETH/BTC ratio: 0.03388 (-0.24%)
• Hashrate (7-day moving average): 1,051 EH/s
• Price per hash: $37.27
• Total fees: 2.55 BTC ($227,479)
• CME Futures Open Interest: 112,885 BTC
• BTC valued in gold: 20.8 oz
• BTC vs. Gold Market Cap: 5.86%

This last figure is particularly relevant: Bitcoin accounts for only 5.86% of the total gold market capitalization, confirming that the market assigns much higher value to traditional safe havens.

ETF Flows and Trader Sentiment

Spot Bitcoin ETFs:

• Daily net flows: -$142.2 million
• Cumulative net flows: $57.25 billion
• Total BTC holdings: ~1.31 million

Negative outflows from spot Bitcoin ETFs during this period indicate that large investors are reducing exposure, a signal consistent with a preference for safe havens.

Spot Ethereum ETFs:

• Daily net flows: +$84.6 million
• Cumulative net flows: $12.55 billion
• Total ETH reserves: ~6.09 million

Despite positive flows into Ethereum, the price continues to decline, suggesting that inflows are quickly absorbed by structural selling.

The combined ETH staking rate (CESR) has increased by 4 basis points to 2.84%, reflecting a slight revival of validator interest.

Upcoming Events: Governance and Opportunities in the Crypto Market

Governance Votes:

• Yearn DAO: Voting until December 23 to rotate multisig signers (YIP-89) and implement a yETH recovery plan (YIP-90) utilizing Treasury yields.

• GMX DAO: Voting until December 23 to fund the new GMX-Solana Distribution with $400,000 USDC, half of which will be used to buy GMX tokens to create an initial balanced liquidity pool.

• Aave DAO: Voting until December 26 to regain full ownership of brand assets, including domains and social handles, to prevent private misuse.

Token Launches:

• Aster: Phase 5 Buyback Program begins December 23.

Crypto Quoted Stocks:

• Coinbase Global (COIN): $246.49 (-0.57% pre-market)
• Circle Internet (CRCL): $85.74 (-1.44%)
• Galaxy Digital (GLXY): $24.49 (-0.49%)
• Bullish (BLSH): $44.58 (-2.16%)
• MARA Holdings (MARA): $10.05 (-0.79%)
• Riot Platforms (RIOT): $14.38 (-0.14%)
• Core Scientific (CORZ): $15.77 (-0.16%)
• CleanSpark (CLSK): $11.99 (-0.91%)

Conclusion: Gold and Bitcoin in the Current Market Context

The emerging picture is clear: while the gold chart over the past 30 years continues to reinforce its narrative as the ultimate safe haven, Bitcoin and cryptocurrencies face the tough position of competing with traditional safety assets. The risk aversion driving global markets is rewarding those who choose gold over those betting on cryptocurrencies.

According to VanEck’s analysis, the last 30 days have marked the steepest drop in hashrate since April 2024, a historically linked trend to miner capitulation and markets closer to lows than highs. This could be an intriguing contrarian signal for long-term investors.

However, until macroeconomic data clarity is achieved and a risk sentiment reversal occurs, gold will likely continue to shine brighter than Bitcoin. The gold chart, with its thirty-year history of stability and growth during crises, will remain the market benchmark for capital protection in high-uncertainty scenarios.