Analysis: Bitcoin and gold are under pressure at the same time, and the market enters a risk aversion model

According to BlockBeats, on August 31, this month's Bitcoin and gold ETF data showed that recent capital flows deviated from the historical trend: usually the two are in the opposite direction, but this time the two have flowed out at the same time. This rare phenomenon reflects changes in the current macroeconomic environment and investor psychology. Bitcoin’s outflows have not benefited from gold, and both will still be under pressure until the Fed’s policy path is clear. Bitcoin ETFs have been outflowing for six consecutive days, losing nearly $2 billion in late August alone. Meanwhile, major gold ETFs such as GLDM also leaked $449 million in a week. The Bitcoin ETF eventually rebounded at the end of August, with capital inflows for four consecutive days. Gold ETFs also showed net inflows in the last few days of August 2025, similar to the rebound trend of Bitcoin ETFs. Unknowns of the Federal Reserve's monetary policy, ongoing inflationary pressures and signs of weak labor markets, Bitcoin and gold simultaneously lose their appeal to investors seeking certainty amid the uncertainty of the Fed's next move. The market is in a risk aversion mode, and speculative and defensive assets are difficult to gain momentum, and are waiting for the Fed's next move.