Since the beginning of this year, gold has broken its all-time high more than 50 times, and analysts at Swissquote are emphasizing that this upward momentum is far from over. With overwhelming bullish sentiment, strong supply and demand dynamics, and a favorable macro environment, this round of gold rally has indeed been fierce.

In contrast, the performance of the crypto market is a bit perplexing. FIL is quoted at 1.271, down 1.85%; LUNA is around 0.1053, down 2.41%. The perpetual contract market is also under pressure for a correction, with short-term buying momentum clearly lacking.

However, this contrast actually hints at something deeper. The fundamental drivers behind gold's surge—rising safe-haven demand and the release of global liquidity—are closely aligned with the long-term logic of digital assets. Commodities and digital assets often resonate during loose monetary cycles, only with a slight time lag.

The current adjustments in the crypto market are less signals of risk and more a process of major players gradually building positions. Historically, before every large-scale market move, there has been such a period of consolidation. Missing this window and chasing after the rally later will come at a higher cost.

What’s your view? After the sustained rise of gold, will the crypto market catch up with a rebound, or does it need to continue bottoming out?

(Disclaimer: This article is for market observation sharing only and does not constitute investment advice. Cryptocurrency assets are highly volatile, and risks are borne by the investors.)