Looking at this data since 2025 makes it clear. Gold has increased by 68%, surpassing 4500 yuan; silver is even more impressive, rising by 150% to reach 77; and what about Bitcoin? It actually fell by 5%, dropping from $95,000 to $88,000. Why is the gap so big?

The issue is quite painful— the market simply doesn’t see Bitcoin as a safe haven. What are gold and silver? Globally recognized safe assets that won’t lose value when stored, and can also fight inflation. But what about Bitcoin? People categorize it as a high-risk investment, no different from volatile tech stocks. As long as there’s plenty of money, daring investors, and market optimism, it will rise; once everyone starts to fear and hesitates, it falls harder than anything.

What’s even more painful is that those short-term positive news that could have driven Bitcoin up have already been used up. Bitcoin ETF approval, clearer regulatory frameworks, and even Trump signing an executive order related to strategic reserves—these should all be good news. But now? After these announcements, Bitcoin’s price either stays the same or keeps falling, as if nothing has changed. Everyone’s previous expectations have been dashed.

In short, Bitcoin still hasn’t reached the status of a safe-haven asset, and most of the good news that could have been used to hype it up in 2025 has already been exhausted.