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🔥 Since January, $100 billion was moved into Binance’s gold futures by crypto traders, indicating that safety-seeking participants are looking for alternative forms of value, such as gold futures, in light of the ever-increasing geopolitical risks and macroeconomic uncertainty. Gold peaked at 210% in value pre correction and has since experienced a 16.5% correction. Still, participation in the gold market remains strong with $6.6 billion traded yesterday alone. The BTC to XAU (gold) ratio indicates that Bitcoin continues to underperform versus gold; combined with 24 x 7 access to gold, this will drive how market participants buy and sell in relation to each other.#ArthurHayes’LatestSpeech @Bobbypk

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