XAUT on the Rise: Is a 2025-Style Rotation Impacting Bitcoin Again?

In 2025, macroeconomic volatility sparked renewed discussions about "safe havens" for investment.

Key Takeaways

Gold saw a substantial price increase, climbing nearly 65% in 2025.
Bitcoin faced challenges, finishing the year down 6.30%.
A significant rotation toward safer assets like XAUT indicates a potential trend moving into 2026.
China's market actions are influencing the demand for metals, particularly gold.
Investor behavior suggests early positioning in XAUT as macro conditions evolve.

XAUT on the Rise: Is a 2025-Style Rotation Impacting Bitcoin Again?

As we closed out 2025, gold (XAU) emerged as a dominant choice for investors, rising nearly 65% to a record price of $4,500. This surge reinforced gold's status as a preferred asset during financial uncertainty. In contrast, Bitcoin (BTC) struggled under similar pressures, finishing the year down 6.30%. The shift in investor sentiment suggests a possible trend toward safer assets, with tokenized gold (XAUT) performing remarkably well in Q4 of 2025—a clear departure from Bitcoin's downturn.

Investors Focused on XAUT Amid Shifting Capital Flows

China appears to be a driving force in the rising demand for precious metals. The country’s export ban on silver led to an impressive 147% price rally in 2025, placing it at the forefront of asset performance for the year. Now, as China invests in gold mining, a familiar narrative seems to be unfolding.

For context, China’s largest gold producer, Zijin Mining, is pursuing more overseas acquisitions. Following the significant price increase of gold in 2025, these actions seem strategically linked to anticipated sustained demand for gold.

XAUT

Source: TradingView (XAUT/USDT)

This makes XAUT's robust performance no coincidence. Following a strong finish in 2025 with a 65% gain, investor enthusiasm remains high. Notably, Lookonchain reported a whale trader who incurred a loss of $18.8 million in Ethereum (ETH) but shifted their investments towards gold, supporting the prevailing market narrative.

Moreover, six wallets collectively purchased 3,102 XAUT for a total of $13.7 million. When viewed together, these activities suggest early positioning from investors as they strategically adjust their capital in anticipation of macroeconomic shifts.

For Bitcoin, 2026 might resemble the divergence experienced in 2025.

Final Thoughts

As we progress into 2026, it will be fascinating to observe whether the trends from 2025 will repeat and how they will influence both Bitcoin and XAUT moving forward. With the macroeconomic situation continually evolving, investor preferences for safe-haven assets like gold and its tokenized counterparts will likely remain a focal point.