#比特币价格预测 After seeing Garrett Jin's analysis, my first reaction is: this logic has played out multiple times throughout history.

Remember the market cycle from 2020 to 2021? Back then, precious metals also led the way, with gold reaching all-time highs, followed by the true boom in crypto assets. Many people mistakenly thought precious metals were the preferred safe haven, and by the time they realized it, they had already missed the optimal positioning window. This time, short squeeze-driven precious metals rally essentially reflects the same signal — the market is seeking the most liquid risk-off tools.

The key lies in judging the cycle inflection point. Industrial precious metals like silver and palladium are indeed difficult to sustain gains on, because they lack Bitcoin's "scarcity consensus" and global liquidity support. Once short covering is complete and the squeeze ends, this capital faces two choices: return to traditional assets or seek new high-yield opportunities. History tells us that at this inflection point, crypto markets often become the destination for these funds.

However, what requires clarity here is that not all capital will flow into Bitcoin and Ethereum. Differentiation will be quite evident — large institutional capital tends toward Bitcoin, while Ethereum is more susceptible to risk appetite shifts. Current price levels, market sentiment, and macro liquidity are the decisive factors. Blindly following the herd typically comes at the highest cost.