On-chain gold trading volume explodes, but Bitcoin is "cooling down"? The truth is a bit counterintuitive

Many people see BTC retrace and instinctively think: the market has weakened.
But if you take another look at the data, you'll find things are not that simple—
Tokenized gold trading volume has directly skyrocketed.
What does this indicate?
Funds haven't moved out; they’re just changing places.
This behavior is common in financial markets:
When core assets are uncertain in the short term, funds tend to "hide away" first.
And now, the "hiding place" has become on-chain gold.
Meanwhile, Ethereum is still steadily rising, indicating that another portion of funds is betting on the ecosystem.
It's like a room:
Some sit still (BTC), some change seats (gold), some are still looking for opportunities (ETH).
And Adam Back’s view is like saying:
Don’t be fooled by the chaos now; it will ultimately return to a center.
The question is—
Has this "center" really been established? #Polymarket每日热点