Amid the continued weakening of the US dollar, gold and silver are on the rise. Recently, silver surged more than $1.6 in a single day, directly breaking through the $66 mark and hitting a new all-time high; gold also remains firmly above $4,300.

What does this contrast imply? Some analysts suggest that this may indicate funds are quietly withdrawing from risk assets and re-entering traditional safe-haven instruments. In other words, an asset rotation is underway—and Bitcoin is likely to be at the forefront of this adjustment.

Why do they say that? The reason is simple. Investors who once regarded Bitcoin as "digital gold" and used it to hedge against dollar depreciation now face an awkward situation: genuine safe-haven assets (gold, silver) are performing well, making Bitcoin’s safe-haven narrative seem somewhat weak. When market risk appetite truly declines, Bitcoin usually comes under pressure and may even experience sharp corrections.

Market participants believe that the current situation reflects concerns over inflation, economic slowdown, and rising unemployment rates. In this macro environment, Bitcoin’s performance may not be as resilient as expected. Some institutions predict that Bitcoin could test the $70,000 level within the year, while precious metals are expected to continue reaching new highs.

Such cautious views are not uncommon. Several research institutions have pointed out that if market demand continues to weaken, Bitcoin still has room to decline further. This serves as a reminder for investors to maintain a clearer understanding of risks amid the increasing uncertainty in the current environment.