#数字资产市场动态 Under the policy expectation of a bottoming out, can Bitcoin outperform gold?

Recently, market sentiment has been quite interesting. A market comment on January 14th pointed out that with stable US employment data and no runaway inflation, risk appetite has fully recovered—you can see stocks rising, gold rising, the dollar rising, and cryptocurrencies also climbing; basically, all risk assets are moving upward.

Geopolitical issues do exist, but the market remains stable. Regarding oil prices, the geopolitical premium has long been digested, and the overall trend remains relatively strong.

The key driving force is actually this logic: the market is betting that policies will provide support. Trump’s policies lean towards easing, with fiscal stimulus combined with a tough stance, aiming to create an atmosphere of "no risk worldwide." Bitcoin reflects this expectation—previous attempts to push higher always failed, but now it has directly broken through $95,000. And this is not the end; if gold truly cannot keep up with the devaluation trend in the crypto space, Bitcoin’s relative attractiveness might attract more capital.

Risks are definitely still present: decisions from the US Supreme Court on tariffs, changes in geopolitical situations, and other factors are potential black swans. But from a market perspective, most risk factors are already priced in. As long as no real sudden events occur, the current pullback is seen by institutions as a good entry point.

In summary, the policy support expectations on the eve of the election cycle have already boosted the popularity of US stocks and the crypto market. Short-term volatility exists, but for institutions, this is a good opportunity to buy in at low prices.