Recently, there has been an interesting phenomenon: PAXG gold has risen by over 70% this year, and silver has even broken through $72/ounce for the first time, making traditional scarce assets extremely popular. In contrast, Bitcoin has had its worst performance this quarter in seven years, which is a bit disappointing.

Does this mean that large funds are starting to flee from cryptocurrencies and flow back to traditional safe-haven assets? At first glance, it does seem to imply that. The instability of the geopolitical situation and liquidity fluctuations indeed make gold and silver quite attractive. In the short term, it is hard to resist this momentum.

But upon further thought, the underlying logic of these two types of assets is actually quite different. Gold relies on thousands of years of consensus and physical scarcity, that’s true. Bitcoin, on the other hand, has its scarcity encoded, completely transparent, and global consensus is also expanding. In the long run, when traditional sovereign currencies face devaluation pressures, and the advancement of AI technology accelerates the digital migration of assets, the demand for value storage in digital form will instead become increasingly strong.

Of course, in the short term, there is no need to argue about this wave of gold market, but if we really look at the pattern over 5 or 10 years, the return of pricing power to digital assets may be the big story.

**Technical Reference**: The current price of Bitcoin is around 4531.76 USDT, with a key support level at 4484.15 USDT. If you are interested in going long, you may consider placing orders near the support level, and remember to set stop losses if it breaks below the support. The market is always there, so don't rush to get in.