Recently, gold has stood above 4500 ounces for three consecutive days, and it feels like this price level has finally stabilized. This reminds me of an interesting phenomenon—during times of turmoil, precious metals like gold and silver shine brightly, while in peaceful and stable times, they appear rather ordinary. In short, the market environment determines the valuation of assets.

This is exactly what makes Bitcoin the most interesting. As a representative of digital assets, it is not as tightly bound by traditional macro environments; it can rise with risk asset trends and also play a role similar to gold when risk aversion sentiments increase. To some extent, $BTC has already challenged the status of traditional safe-haven assets with its actual performance.

The times create heroes, and the market creates assets. In this current era, the logic of asset allocation is being rewritten - those who can adapt to change will be the winners.