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The market is telling us something Bitcoin fans may not want to hear: money is choosing gold over BTC. Gold keeps printing new highs. Silver just posted one of its strongest weekly performances. Even major institutions, from UBS to domestic brokers, are raising their price targets. Meanwhile, $BTC is stuck in an awkward position. It’s not following the new highs in U.S. stocks. It’s not following the new highs in gold either. That matters. If investors were treating Bitcoin as both a risk asset and a safe haven, you’d expect it to participate in at least one of these moves. Instead, the marginal safe-haven money appears to be flowing toward traditional metals rather than crypto. The “digital gold” narrative sounds great—but narratives don’t move prices. Capital does. And right now, the data is showing us where that capital is actually going. #DailyOrbit