The market hit hard right at the opening this morning: silver plunged nearly 5% in a single day, while Bitcoin stubbornly pushed back to the $90,000 mark. This kind of counter-movement is truly interesting.

After years of watching the markets, I've seen many dramatic reversals. But today's level of divergence is quite special — silver hit its largest single-day volatility on record, breaking below $75/ounce, while Bitcoin rose over $2,000 during the same period. What does this indicate? It’s not just simple sector rotation; behind it is a global capital reevaluation: which asset class is more worth allocating — precious metals, cryptocurrencies, or traditional financial assets?

**Why did silver drop so sharply?**

First, there’s too much profit-taking. Since the beginning of the year, silver has gained over 150%, while gold has only increased by about 70%. At this level of gains, any small movement can trigger a wave of liquidations. The immediate reversal after hitting a new high is based on this logic.

Second, the silver market itself is fragile. Trading volume is only one-tenth of gold’s, and a single large sell order can create a big gap. The key point is that London spot inventories have shrunk by 75% compared to 2019, liquidity has long been insufficient, and today’s sharp decline is, to some extent, a concentrated outbreak of this structural issue.

**What is the signal behind Bitcoin’s counter-rally?**

This is even more interesting. When precious metals come under pressure, institutional funds are quietly shifting. Bitcoin breaking through $90K reflects a re-recognition of the safe-haven properties of crypto assets. The突破 of this psychological barrier at $90K may have attracted a new wave of institutional entry.

In simple terms, today’s market is a transfer of power between traditional safe-haven assets and new assets. Which one you believe in influences the market direction.