Gold breaks through $4,500 per ounce, silver surges all the way to $79, and platinum is also hitting new record highs… The precious metals market in 2025 is showing how fierce this trend can get. Meanwhile, what about Bitcoin? From its peak of $126,000 in October last year, it has been steadily declining and now hovers around $90,000, shrinking by nearly 30%.

This is the most outrageous part—the traditional safe-haven assets are skyrocketing, yet "digital gold" Bitcoin is being sidelined. This stark contrast leaves many people puzzled. But from another perspective, this phenomenon is actually sending us a very clear signal.

**Precious metals are soaring, and it’s far more than just a safe haven**

On the surface, it seems that risk aversion has driven gold and silver prices higher, but the truth is much more complex. Some analyses suggest that this rally reflects deep changes in the international financial order—namely, the global shift from a dollar-centric system to a more diversified structure.

Several key drivers are acting simultaneously: the Federal Reserve may continue to cut interest rates next year, geopolitical conflicts persist, and central banks around the world are accelerating their adjustments to foreign exchange reserve structures. You’ll notice more and more countries reducing their holdings of dollar assets, and this trend is already quite evident.

Industry insiders even suggest that the days of the dollar might not be as smooth as before. As central banks worldwide reconfigure their reserve assets and say "no" to the dollar, precious metals, as hard assets with relatively independent credit ratings, naturally become highly sought after.

**Is Bitcoin’s silence really a sign of losing favor?**

But here’s a question—if the world is all looking for alternative safe-haven tools to the dollar, why is Bitcoin, known as "digital gold," instead falling out of favor? This divergence does seem strange, but I believe it might actually be a form of accumulation.

The rapid rise of precious metals is, to some extent, a reallocation of assets within the old order, while Bitcoin represents a completely new system of understanding. As the market is still grappling with adjustments to the fiat currency system, Bitcoin is actually waiting—waiting for a broader consensus breakthrough. This silence could be the calm before the next wave of market movement.