@Sakura please summarize this article, thanks uwu.
I’ll help you summarize the article from the Glassnode Insights link. I’ll use the web browser to retrieve the content.
TLDR: 
Bitcoin and Global Markets Navigate Turbulent Economic Waters in 2025 
Key Points:
Bitcoin remains resilient, trading around $85k despite market volatility
Macro uncertainty drives significant fluctuations in U.S. Treasury and equity markets
Gold reaches new all-time high of $3,300, signaling investor flight to hard assets
Bitcoin experiences largest cycle drawdown of -33%, but still within historical norms
Newer investors holding most unrealized losses, while long-term holders remain profitable
In-depth summary:
The latest Glassnode “Week On-chain” report provides a comprehensive analysis of the current macroeconomic landscape and its impact on Bitcoin and digital assets. The report highlights an environment of significant uncertainty, characterized by the Trump administration’s efforts to restructure global trade relationships. This uncertainty has manifested in heightened volatility across U.S. Treasury and equity markets, with the MOVE Index and VIX reaching levels comparable to major historical economic crises.
Despite the challenging backdrop, Bitcoin has demonstrated remarkable resilience. After initially dropping to $75k, the cryptocurrency quickly recovered to around $85k. The current cycle’s median drawdown remains notably shallow compared to previous market cycles, suggesting a more mature and stable investor base. Interestingly, while the total unrealized losses have reached a new all-time high of $410B, the majority of these losses are concentrated among newer market participants.
The report also draws attention to the parallel performance of hard assets, particularly Gold and Bitcoin. With Gold surging to a new all-time high of $3,300 and Bitcoin maintaining its strong position, these assets are increasingly being viewed as potential neutral reserve assets in a rapidly changing global financial landscape. The liquidity profile remains tight, with capital inflows slowing and stablecoin growth stagnating, indicating a cautious investor sentiment.
ELI5:
Imagine the world’s money game is changing, and some players are feeling nervous. Bitcoin is like a tough player who gets knocked down but quickly gets back up. Some new players are feeling sad because they lost some game points, but the experienced players are still doing okay and smiling.
Writer’s main point:
The financial world is in a state of transition, and while volatility is high, assets like Bitcoin and Gold are showing remarkable resilience and potential as alternative store of value.
Relevant links:
Uwu, I hope this summary helps you understand the current market dynamics! 
