Silver rose to $ 63 per ounce today, marking a new record for the precious metal. In comparison, the cryptocurrency market fell by 2.74% in the last 24 hours, with all of the top 20 coins, excluding stablecoins, down in the red.
This sharp difference in development shows a shift in capital flows. Although such movements are often considered a classic risk-off signal, some analysts believe it could indicate the opposite.
Why is the silver price rising?
Silver continued its overall rise today and reached a new record during Asian trading hours. Data from Companies Market Cap shows that silver is the sixth largest asset globally with a market value of $ 3.5 trillion.
According to fresh comments from The Kobeissi Letter, the metal is now on track to record its strongest 12-month performance since 1979.
“The current rise in silver prices makes 2020 and 2008 look like round numbers. A new era of monetary policy is on the way,” the post states.
As the rise accelerates, people are rushing once again to obtain safe-haven assets. But why is demand for silver increasing? According to trader Michael, this increase is not just a result of demand, but of “desperation.”
He pointed out that physical silver-based ETFs absorbed more than 15,3 million ounces in four days. This was the second largest weekly inflow in 2025.
Additionally, Michael noted that this number is approaching the 15,7 million ounces added throughout the month of November.
“Silver ETFs are now on track for their tenth month of consecutive inflow, something that has only happened during systemic stress times,” he added.
The world's largest silver ETF, SLV, reportedly received nearly $ 1 billion in weekly inflows, surpassing the inflow of the major gold funds. In his view, the reasons behind silver's rapid rise extend far beyond enthusiasm among retail investors or inflation fears. Michael said:
“The global monetary system is losing trust quietly, quickly, and from within. Silver is the only asset that stands at the crossroads of two crises: 1. A race for hard assets as government debt exceeds breaking point. 2. A persistent industrial shortage driven by AI infrastructure, solar energy expansion, electric vehicle adoption, and demand for semiconductors.”
The trader emphasized that when financial uncertainty meets physical scarcity, not only does the silver price rise – it “disconnects,” which he believes signals a deeper crack rather than a usual market rise.
Silver vs Bitcoin: The performance gap is widening in 2025
At the same time, the weak performance of the cryptocurrency market stands in stark contrast to silver's strong rise. BeInCrypto Markets data showed that the largest cryptocurrency fell more than 2% in the last 24 hours, extending a broader downtrend.
Analyst Maartun points out that silver in 2025 appears to be the big winner of the year, even surpassing gold. Bitcoin, on the other hand, lags behind these precious metals and even the major stock indices like S&P 500 and Nasdaq.
“Over the last four years, Bitcoin has been crushed measured in silver. It has lost more than half of its value measured in silver,” stated economist Peter Schiff.
This indicates that risk-off sentiment is increasing. When uncertainty rises, investors often turn to traditional safe-haven assets. Silver and gold have played this role for centuries.
Nevertheless, some analysts believe that silver's rise is not due to a flight to safety, but rather that investors are ready for more risk. Crypto analyst Ran Neuner presents such a counterpoint and says that the market now favors risk assets. His view challenges traditional perceptions of the rise in precious metals.
“The market is now in FULL risk-on mode, and most do not see it because Bitcoin is not moving! Silver is at record levels. It is in an outbreak and rising with acceleration. Silver is beta-gold and signals risk-on!” he stated.
Neuner also pointed out that the ETH/BTC ratio is rising above its 50-week moving average, indicating renewed interest in cryptocurrencies. He also mentioned the Russell 2000's breakthrough and the Federal Reserve's latest pivot as further evidence of a broad risk-on environment.
“Soon the sellers in BTC will dry up, and the big catch-up trade will begin. All signs point in one direction!” asserted Neuner.
Other analysts also expect that Bitcoin will experience renewed demand. Whether this view comes to fruition will depend on how market trends develop and whether crypto buyers return strongly in the near future.
