#数字资产市场动态 $STORJ $ZEC

The dollar devaluation drama is in full swing! The recent rally in gold and silver is quite crazy

The end-of-year financial markets are truly a tale of divergence. Gold has broken through the $4,500 mark, with an annual increase of 70%-73%; silver surged to $79, doubling its yearly gains, with a return of 140%-170%, making many regret not jumping on earlier. Meanwhile, the proportion of dollar reserves has slipped from over 60% to 57%-59%, indicating a clear loosening of the dollar's dominance.

While gold and silver are booming, Bitcoin has fallen from its high of $126,000 at the start of the year to now between $87,000 and $90,000, effectively braking in the midst of the "de-dollarization" wave. This is a bit awkward.

The underlying logic is quite clear—institutions believe that the strong performance of precious metals reflects early pricing of a future multipolar world. The record-breaking central bank gold purchases are proof of this. More importantly, the Fed is expected to cut interest rates further by 2026, geopolitical tensions are rising, and these two factors combined have Goldman Sachs setting a target price of $4,900 for gold, with potential gains of 8%-15%; silver has a 20%-35% upside. Trump is also nominating a dovish Federal Reserve chair, further fueling expectations of easing—this is great news for precious metals.

So why is Bitcoin falling behind? Essentially, it’s a matter of unclear positioning. Is it a risk asset or a hard asset? This ambiguity in identity directly affects its performance amid the "de-dollarization" backdrop. Some analysts point out that BTC is actually undervalued; if macro liquidity truly improves, there’s still a chance for a market rebound.

Looking ahead, four variables in 2026 deserve close attention: how the Fed will shift, whether the dollar can stabilize, how geopolitical risks will evolve, and finally, whether capital flows and valuations in the crypto market can recover. Price itself is telling a story, and changes in market structure are already happening. Do you think Bitcoin will catch up with gold and silver, or will it continue to fall behind?