The current market is quite interesting. The rise in gold has been very fierce, reaching a new high of $4408.33/ounce on December 22, with a daily increase of over 1.5%, and the cumulative increase for the year has already exceeded 67%. This performance is indeed eye-catching.

The logic behind this is worth pondering. Once safe-haven assets like gold strengthen, market risk appetite often declines. Looking at BTC, the funds in cryptocurrencies may indeed be diverted. After all, when investors face the stable returns of gold, their enthusiasm for high-volatility assets is bound to cool down. This phenomenon of capital rotation is not uncommon in the market, especially during times of increasing economic uncertainty. It is essential to closely monitor this trend, as it may indicate new changes in asset allocation in the coming period.