Gold is rapidly gaining favor among large investors as the cryptocurrency market continues to show weak, indecisive price action. With Bitcoin and Ethereum struggling to regain momentum, on-chain data suggests that large crypto investors are increasingly reallocating capital toward gold-backed assets, reinforcing the precious metal’s long-standing role as a haven during periods of heightened uncertainty.
Whales Accumulate Gold as January Gains Hit 20% and Price Surges to $5,300
Blockchain analytics platform Lookonchain reported heightened whale activity as gold extended its rally, surging 20% in January and reaching a new all-time high of $5,300. In a recent post on X, Lookonchain highlighted the actions of a whale who spent approximately $5.95 million to acquire gold-backed stablecoin, PAXG, over the past two days.
Data from Arkham Intelligence revealed that the accumulation was carried out through a series of transactions, signaling a calculated buying strategy. In addition, Lookonchain flagged a newly created wallet that withdrew 800 XAUT (Tether Gold), valued at around $4.22 million, from the crypto exchange Bybit.
Arkham Intelligence data shows the withdrawal occurred in two separate transactions, reinforcing sustained demand from large holders. CoinRemark also recently reported that an Ethereum whale pivoted into gold after suffering heavy losses from trading ETH, highlighting a broader trend of capital preservation among large investors.
Crypto Market Remains Fragile Amid Macro and Liquidity Pressures
The broader crypto market remains fragile amid macroeconomic uncertainty and persistent inflation, which weigh heavily on investor sentiment. Fears surrounding a potential U.S. government shutdown have rattled markets, as such a scenario could delay the passage of the Clarity bill, prolonging regulatory uncertainty.
Adding to the pressure, a report from Matrixport has revealed a sharp decline in stablecoin liquidity, signaling that more investors are pivoting toward traditional safe havens like gold. This liquidity drain has limited upside momentum across digital assets.
According to CoinMarketCap, Bitcoin is currently flirting with the $90,000 level, while Ethereum is trading slightly above the $3,000 mark, underscoring the market’s sideways trend.
Rally Fueled by Weak Dollar as Banks Turn Bullish on 2026 Outlook
Gold’s surge to record highs has been further supported by a sharply weakened U.S. dollar. The dollar’s decline has strengthened the precious metal’s appeal as an alternative store of value, particularly among institutional investors seeking protection against currency debasement.
Looking ahead, major financial institutions are increasingly bullish on gold’s long-term trajectory. Analysts at Deutsche Bank have speculated that the precious metal could surge to $6,000 per ounce by 2026. Echoing this outlook, Société Générale analysts also expect gold to reach $6,000 by the end of 2026.
Meanwhile, Morgan Stanley, while maintaining a bullish stance, projects a more moderate upside, forecasting gold at $5,700. Goldman Sachs similarly expects continued strength, predicting gold will climb to $5,400 by December 2026.
With whale accumulation accelerating, macro uncertainty persisting, and institutional forecasts aligning toward higher prices, the precious metal appears well-positioned to remain a dominant safe-haven asset in 2026.
The CoinRemark Team
Evans Kelvin
