Possibly. Tokenized gold is losing momentum, and interest in Bitcoin as a higher-beta safe haven is rising.

Gold’s rally appears to be losing steam, and investors are starting to look elsewhere for safety.

Bitcoin [BTC] is becoming an unlikely safe haven, with capitulation indicating a possible short squeeze. With sentiment turning, will BTC’s stint as digital gold come around faster than expected?

Bitcoin’s Taker Buy Ratio has plunged to around 0.47 — its lowest in years.

Data from Binance confirmed the downturn, showing how aggressive “market sell” orders have overwhelmed buyers.

This followed a surge in exchange inflows, a hallmark sign of panic-driven capitulation.

While more downside is still possible, extreme fear is indicative of a market bottom. If Bitcoin recovers above the 0.5 level — especially on Binance — it could mean selling is slowing and a rebound is on the way.

The recent flash crash — one of the largest in crypto history — wiped out overleveraged positions, clearing the path for a potential rebound.