RE: "Bitcoin is Gold" narrative is dead.
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Bingo, you are spot on. People need liquid cash right now, they are scared for what may happen and dont want risk at the moment.
BTC is still a safe haven asset for long term wealth storage however, as we see evidenced by many companies and even governments adding BTC to their reserves. BTC is not meant to be a place to put money for a month, it is meant to store wealth for long periods; people know it is not going anywhere at this point, it is far beyond the risk of failure now, the world has already accepted it.
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Couldn't agree more and well put, I can't even add anything more. We just need more people to reach this point in viewing bitcoin, which will come with time and as people who hold the asset long term continue to benefit