Gold has surged past $5,000. Stocks keep booming. The dollar is falling again. Yet Bitcoin is sitting out the action. Its price is stalling, volumes are limp, and longtime believers are looking to equities, precious metals and prediction markets.
The original cryptocurrency is down 25% since October and has shed 6% in the past seven days. Investors have pulled more than $1.3 billion from Bitcoin-linked funds over the last week, part of a broader retreat from crypto ETFs.