Gold and silver prices plunge dramatically, safe-haven assets collectively fail, and something bigger is happening in the market.
Last night's market can be summed up in one word: out of control.
Gold fluctuated wildly by $500 in a single day, falling below the 5200 mark; silver plummeted directly by 6%, with movements harsher than altcoins; even $BTC couldn't hold up, once dropping 6%, and the total cryptocurrency market cap fell below $3 trillion. The situation between the US and Iran is heating up, Trump is making statements, and the Federal Reserve Chairman is about to reveal important information, with all macro variables overlapping at the same time, leading to a complete ignition of market sentiment.
The most unusual thing is — safe-haven assets are no longer safe.
Gold and silver, which are “ancestral-level” safe assets, have surprisingly exhibited extreme market behavior with cliff-like declines followed by sharp rebounds, indicating one thing: the current market is not pricing in risk, but is panic-driven in search of an exit. Money doesn't know where to stop, only able to enter and exit quickly, repeatedly switching.
In this environment, a phenomenon that many people overlook is occurring: the status of stablecoins is being amplified. When price volatility becomes the norm, what funds truly need is not skyrocketing returns, but rather the ability to “leave at any time without issues.” It is against this backdrop that Layer 1 solutions like @Plasma and $XPL #Plasma , designed specifically for stablecoin settlements, appear exceptionally fitting.
When gold starts to become emotional and Bitcoin cannot stand alone, what the market is truly competing for is no longer which asset rises the most, but who can bear liquidity during extreme volatility.
This may be the most easily overlooked main line behind last night's market movement.
$XAU #贵金属巨震 #加密市场回调 #美国伊朗对峙 #下任美联储主席会是谁?
{spot}(XPLUSDT)
{future}(XAUUSDT)
{future}(BTCUSDT)