The rare synchronized rally of precious metals has reappeared. Gold remains firmly above $4,500, with a six-month increase of over 150%; silver surged from 33 to 72, with an even more astonishing rise. Such a scene has only occurred two or three times in half a century, and today it is happening again.

Interestingly, the first two waves of similar madness in history were accompanied by high inflation and real negative interest rates—money depreciating, making gold and silver the ultimate safe-haven assets. This time, the script is different: inflation is moderate, and interest rates are also high, so what is the market betting on?

The answer is straightforward—betting that the US will use inflation to dilute its enormous debt, betting on the long-term de-dollarization process worldwide. Investors are making their judgments with real gold and silver.

When gold, silver, and copper—three major commodities—advance together in rare unison, it’s a classic signal: the commodity cycle has officially started. Historical experience tells us that silver often catches up most fiercely in the mid-to-late stages of gold’s rally, with volatility far exceeding that of gold. Currently, silver is precisely at this position.

But there is a warning—when everyone is discussing the gold market, the short-term overheating signals have already started flashing. Looking back at the previous two epic rallies of a similar scale, the ending points to the same script: after the precious metals feast, massive capital flows into the stock market, initiating a long-term bull market lasting over a decade.

What does this mean for the crypto market?

**Long-term liquidity logic**: The prosperity of traditional assets often precedes the rise of high-risk assets. The crypto market is closely linked to the US stock market; if history repeats, the excess liquidity may ultimately fuel core assets like Bitcoin and Ethereum.

**Asset allocation insight**: During cycle rotations, only leading assets like Bitcoin and Ethereum can withstand volatility. Hold your spot positions well and avoid being shaken out during short-term fluctuations.

**Rhythm control**: Trend shifts require time to ferment. Maintain sufficient ammunition reserves and closely monitor the next signals of capital flow.

A major cycle is brewing, and the key is how well you are prepared.