Gold usually leads the way, which is a noteworthy signal. Many on-chain traders are observing this phenomenon—when precious metals experience anomalies, the crypto market often follows suit. From a macro asset allocation perspective, gold's performance as a traditional safe-haven asset often reflects changes in market sentiment and risk appetite. Therefore, rather than focusing solely on the rise and fall of coin prices, it's better to watch the trends of gold, U.S. Treasury yields, and other major commodities. Understanding this inter-asset linkage can help you better grasp the market rhythm.