Silver surged by 170% in 2025, marking the first eight-month consecutive positive line since 1980. Gold also soared by 80 year-to-date, making the 20% gain of the S&P 500 look quite ordinary. Sister Hippo will show you what's going on?

① The rapid rise in gold and silver mainly started with the weakness of the US dollar.
As many KOLs have recently lamented, the U.S. dollar index fell from 7.4 to 6.8, and the dollar has declined by 9% this year, making 2023 the most sluggish year since 2017.

And when Trump tried every means to cut interest rates, especially after he believed the new Federal Reserve Chair would make rate cuts smooth sailing, Hippo boldly predicts that the dollar will continue to weaken.

Hippo is not bragging; earlier this month, Trump said in an interview that the target interest rate is 1%, and the dollar almost didn't rise. Silver also accelerated its rise by over 40% this month, with intraday gains exceeding 10%.
② Central banks around the world are competing to increase their gold and silver reserves, which is a direct driver of this round of price surges.
Particularly noteworthy is China. In Q3 2025, China purchased 118 tons of gold, a 39% month-over-month increase and a 55% year-over-year increase. As for silver, China has strengthened export controls, requiring all silver exports to obtain government permits starting January 1, which directly triggered a rush to buy and stockpile silver at the end of this month. As a result, Shanghai silver premium increased by $5 per ounce.
③ Compared to the frenzy in gold and silver, Bitcoin's 9% decline this year has created a valuation gap.
In fact, Bitcoin once led the market, rising 40% before entering a decline. Many experts believe this is caused by the high leverage characteristic of crypto trading, which makes it easier to rise but also easier to fall.

Finally, Hippo wants to say that I remain optimistic about Bitcoin/Crypto performance in 2026. Capital flows rotate; looking at silver's historical annual line, every sharp rise is followed by a decade-long correction. So, these funds will eventually retreat, and Bitcoin/Crypto is undoubtedly a valuable gap suitable for capital entry.