The narrative going around lately is pretty straightforward: Silver and Gold keep smashing all-time highs, Bitcoin appears to have peaked, time to rotate into precious metals.

But let's pause here.

When was the last time you saw people actually hyped about silver before it started ripping last month? Be honest—hardly anyone cared. The chatter was minimal, the volume was sleeping, and retail wasn't touching it.

Now it's everywhere. Everyone's suddenly an expert on precious metals. The rotation story sounds clean on the surface, makes logical sense even. Except there's a problem: most rotations don't work the way people think they do.

When an asset only gets mainstream attention AFTER it's already moved significantly, you're not riding the wave early—you're usually catching the tail end. The smart money that knew about metals six months ago? They're already positioned. What you're seeing now is momentum traders and late arrivals chasing returns.

The real question isn't whether precious metals can go higher. It's whether the current buying pressure that's driving these highs is built on conviction or FOMO. And conviction, unfortunately, doesn't usually announce itself on social feeds before it happens.