Recently, silver's performance has indeed been eye-catching. According to the latest data, silver's market capitalization has risen to the third position among global assets, currently reaching $4.485 trillion, only $153 billion less than Nvidia, with a gap of just 3.41%. Currently, the price of silver is $79.68 per ounce. If it rises to $103.4 per ounce, it can directly match Nvidia's market cap of $4.638 trillion. Industrial demand has been consistently strong, and with recent funds flocking into hard assets for safe-haven purposes, silver's upward momentum is indeed fierce.

On the other hand, the crypto market is a bit awkward. Bitcoin is now ranked 8th among global assets, with a total market cap of $1.751 trillion. The price hovers around $88,000, accounting for nearly 59% of the crypto market, which still seems within a value range. However, the end-of-year rally has been quite weak, failing to keep pace with the traditional market’s Christmas surge. Ethereum is even lower, ranked 43rd globally, with a market cap of only $355 billion. While DeFi and NFT ecosystems are still active, institutional interest has noticeably become more cautious, with both enthusiasm and attractiveness waning.

To put it simply, funds are now re-evaluating their options. Hard assets like silver are supported by both traditional safe-haven demand and industrial needs, while the crypto sector is still digesting previous momentum. Bitcoin, as a hedge against digital gold, has failed to attract safe-haven inflows this time, and the entire crypto market is waiting for a new turning point. Market sentiment is shifting, and capital flows are changing—this is the most straightforward reflection of the current situation.