Opinion: Bitcoin retail buying has hit rock bottom, with gold and silver diverting market attention.

On December 8th, according to Business Insider, Joe Ciolli, author of the "First Trade" column, stated that while Bitcoin has risen in tandem with US stocks over the past 10 years, so far in 2025, US stocks have achieved double-digit percentage gains, while Bitcoin remains in a loss-making range. One reason for this is that retail investors' bargain hunting is disappearing. Their sentiment towards Bitcoin has cooled sharply, directly reflected in the slowdown in ETF inflows. Another possibility is that the surge in popularity of precious metals this year, namely gold and silver, has diverted some attention. Some argue that, at least for now, they have replaced Bitcoin's role in investment portfolios. Joe Ciolli added that the recent decline in Bitcoin may have served to weed out some weak-willed speculators. Those still holding Bitcoin today are mostly staunch long-term supporters, a large portion of whom may have held it for a considerable period. If Bitcoin can overcome some of its inherent concerns, such as a potential forced sell-off by large institutional holders like Strategy, it could very well return to its position as a long-term partner to stocks, especially if interest rate cuts materialize as expected.