Interesting phenomena are unfolding before our eyes: gold rises, silver rises, and crypto assets are still falling; gold falls, silver rises, and crypto continues to decline; even when gold advances and silver consolidates, crypto faces renewed pressure.

The trends of traditional safe-haven assets and the crypto market are completely out of sync. What exactly is happening behind the scenes? Has the change in the macro environment broken the previous correlation logic, or is the crypto market experiencing its own independent adjustment cycle? Shifts in risk appetite, liquidity flows, and differences in market participant structures — these could all be part of the answer.