The large investor who shifted his funds to tokenized gold last week has been identified. Bitcoin Impact felt. Prices dropped as a whale silently bought millions of dollars in XAUT (a gold-backed coin), signaling short-term shifts towards traditional hedges.
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Whales move into Tokenized Gold
According to the on-chain tracking, one account transferred USDC worth $1.53 to Hyperliquid for the purchase of XAUT. The same wallet was reported to have bought 481 XAUT earlier, which equated to a $2.38m purchase.
There is still a balance of USDC worth nearly $1.44million at the address, which indicates that there could be more purchases. The transactions were detected on the public blockchains, and flagged up by analysts who monitor large transfers.
It is important to take action. The smaller players often hedge their positions when they see big traders shuffle money. It is not a proof that this trend will continue, but at least now some big holders are preferring to use cryptocurrencies. gold exposure over extra crypto risk.
Gold, not cryptocurrency is the preferred choice of whales.
The whale 0x6B99 deposited 1.53M 30 minutes ago $USDC Hyperliquid for purchase $XAUT again.
Already, he has purchased 481.6 $XAUT$1.44M and $2.38M still in the bank $USDCYou can use it to purchase more $XAUT.https://t.co/0uV2kNEiD0 pic.twitter.com/rYA09b1OEn
— Lookonchain (@lookonchain) January 23, 2026
The price of gold and silver has risen to new highs
Gold prices have reportedly been rising sharply, and spot gold rates are now close to $5,000 an ounce. Silver rose over $100 an ounce as well, and intraday gold prices were near $4,988.
Investors attribute this surge to tensions in geopolitics and a belief that interest rates will ease. This encourages the money to be invested into metal based store of value.
Also, a weaker Dollar has helped. The market chatter indicates increased demand, as investors look for stable places to store capital and global politics creates more worries.
Bitcoin Price Action And Market Sentiment
Bitcoin was trading around $88,653 in one point, down about 1% for the day. It is also nearly 30% lower than its previous cycle high. This gap is huge. The market is now wondering if BTC can continue to be the hedge of choice during high-stress periods. Long-term investors remain optimistic. Some long-term holders remain confident.
According to reports, economist Peter Schiff has re-evaluated his criticism of Bitcoin’s performance compared with gold.
He addressed the potential cost to investors who hold BTC as metals reach record high prices. Schiff stated on various social media platforms that the precious metals were outperforming Bitcoin and this poor run was a sign that Bitcoin is losing its value as a safe haven.
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What Does This Mean for Crypto Investors?
This is more often a result of risk preferences than a permanent change. Some wealthy individuals and funds seek assets with lower volatility when the headlines are louder or policy directions look uncertain.
Some still see Bitcoin as an investment that is long-term and based on scarcity. The picture right now is mixed: Metals are strong and tokenized Gold is drawing attention. Crypto markets also react.
Featured image is from Pexels and chart by TradingView
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Source: www.newsbtc.com
