#数字资产市场洞察 The scene from 2020 is still in my mind. Gold first surged to historical highs, but Bitcoin struggled below its previous highs. What happened next? As the gold rally slowed, Bitcoin began that crazy pump.

Now, the market seems to be using the same script again.

Gold has reached a new high today, rising more than 70%. During the same period, Bitcoin was only $88,000, having dropped 30% from its peak in October. It's a bit heartbreaking, isn't it?

Looking at this year's macro environment makes it clear - the Federal Reserve has already injected liquidity 3 times, and the Treasury is still spending $40 billion per month to buy government bonds, the money globally is rapidly increasing, and liquidity is flowing back.

But the question arises: where did all this money go? History gives us the answer. Like the previous two cycles, the money first went into gold.

However, from the data, it seems that gold is already a bit overdrawn, and the space for further short-term gains is narrowing. The real turning point is: once funds move away from gold and start looking for the next target, how fierce will Bitcoin's reaction be? Just imagine and you'll know.

The numbers can really tell the story—gold has a market value of about 31 trillion dollars, while Bitcoin is only 1.75 trillion. Even if Bitcoin only reaches 30% of gold's market value in the next 5 years, its price could be around 450,000 dollars.

History does not copy and paste, but it always rhymes. Will this time break the norm?