Bitcoin Updates: Tether’s Move into Gold Challenges the Notion of Crypto as a Safe Haven

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Bitcoin Updates: Tether’s Move into Gold Challenges the Notion of Crypto as a Safe Haven

Bitget-RWA2025/11/25 12:40

By:Bitget-RWA

- Bitcoin and Ethereum fell 21-26% in November amid sustained bearish pressure, contrasting gold's record $4,080/ounce surge driven by Tether's 116-ton gold accumulation. - Leverage Shares plans 3x leveraged/inverse crypto ETPs on SIX Exchange, reflecting institutional interest despite volatility risks highlighted by analysts. - Tether's $12.9B gold strategy - including royalty investments and ex-HSBC traders - is reshaping bullion markets, tightening supply and amplifying gold's 50% annual rally. - Bitcoi

Bitcoin (BTC) and

Ethereum

(ETH) extended their downward spiral in November,

tumbling by 21% and 26%

, respectively, as persistent bearish sentiment weighed heavily on the crypto sector. At the same time,

gold soared to an all-time high of $4,080 per ounce

, driven by Tether’s aggressive purchase of 116 tons of gold—putting its reserves on par with those of some smaller central banks. This divergence has shattered the long-standing belief that digital currencies act as a safe haven during financial instability.

Leverage Shares, a European ETF issuer

, revealed its intention to introduce 3x leveraged and inverse

Bitcoin

and Ethereum exchange-traded products (ETPs) on Switzerland’s SIX Exchange in the coming week. This development highlights the rising institutional appetite for crypto derivatives despite ongoing volatility. Still, experts warn these instruments could magnify losses amid sharp market swings,

with Bloomberg’s Eric Balchunas commenting the timing could be “either excellent or disastrous”

depending on perspective.

Bearish sentiment in crypto is unmistakable.

Coindesk’s Bitcoin Greed & Fear Index plunged to “extreme pessimism”

by late October 2025, while

BitMine Immersion CEO Thomas Lee blamed the downturn

on a historic liquidity crisis reminiscent of the FTX collapse in 2022. Nonetheless, BitMine—now the first major crypto company to announce a dividend—remains optimistic,

forecasting a swift V-shaped rebound

similar to previous cycles.

Bitcoin ETF activity mirrored the chaos.

U.S. spot Bitcoin ETFs saw net outflows totaling $1.216 billion

this week, but

a net inflow of $238 million on November 21 hinted at a possible turnaround

. Fidelity’s FBTC led the way with $108 million in new investments, while

Grayscale’s mini-trust (GSTB) attracted $84.93 million

. Total ETF assets steadied around $110 billion, with holdings surpassing 1.05 million BTC—almost half of all Bitcoin in circulation .

Tether’s gold acquisition strategy has become a major talking point. The stablecoin leader,

now holding $12.9 billion in gold reserves

, has emerged as a significant player in the physical gold market. By backing gold royalty firms and recruiting former HSBC traders,

Tether

is crafting a “borderless central bank” approach, blending U.S. Treasury earnings with tangible assets

Analysts at Jefferies believe this approach

has tightened gold supplies and contributed to this year’s 50% price surge.

The market’s split reflects changing investor preferences. While crypto’s turbulence undermines its safe-haven appeal,

Tether’s gold investments and central banks’ moves away from the dollar

are reshaping demand for gold. At the same time, leveraged crypto products and ETFs offer greater exposure but also increase systemic risk in an already fragile environment.

---

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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