A recent interesting phenomenon has emerged in the market: while gold prices are hitting new highs and the US stock market continues to rise, Bitcoin has fallen from its peak of 12.6 million to around 90,000. This divergence between crypto assets and traditional financial assets is indeed worth pondering.

Typically, we would assume that during times of high economic uncertainty, both gold and Bitcoin are used as safe-haven assets. However, the current market situation breaks this old logic—gold and US stocks are rising together, while Bitcoin is undergoing a correction. Some analysts believe that this may not be just simple safe-haven demand but a deeper "strategic adjustment" of global capital towards the monetary system.

Speaking of which, global central banks are quietly changing their reserve structures. Mundada, head of economic research at GlobalData, pointed out that more and more central banks are reducing their reliance on US dollar assets. This "de-dollarization" trend is becoming an intrinsic driver pushing traditional precious metals like gold higher.

Mundada also made a prediction: gold still has an upside potential of 8%-15% by 2026. The story for silver is even more exaggerated; he believes silver could see a growth potential of 20%-35%. If these numbers materialize, it would definitely be worth paying attention to.

What signals can we read from this split market? Perhaps it indicates that cryptocurrencies and traditional assets are heading down different paths. The strength of gold reflects market expectations of a restructuring of the traditional monetary system; meanwhile, Bitcoin’s correction may imply that the crypto market needs to find new growth stories.

From a different perspective, when Bitcoin no longer follows gold step by step, investors will need more nuanced thinking to understand this increasingly complex global market. Each asset class is telling a different story about the future economic landscape.