As soon as the news of the nomination of the new Federal Reserve chairman from the White House broke, today's financial markets immediately plunged into severe turmoil, marking the final collapse of the valuation bubbles for gold and silver. Reflecting on the views I shared with everyone a few days ago: when comparing these core asset classes, I believe that the implied bubble risk in silver is the highest, followed by gold, while the bubble component in Bitcoin is the smallest. The current market trends strongly confirm this logic. According to the latest data as of January 30, 2026, at noon Eastern Time, the performance of various assets shows significant differences: silver prices suffered a heavy blow, plummeting about 24%; gold was not spared either, dropping about 9%; in contrast, Bitcoin's performance was the most stable, with only a recorded decline of 1.35%. The previous analysis direction has proven to be completely correct.