Today I saw a piece of data that made many friends directly break down.

Silver increased by 150%, gold increased by 70%,$BTC decreased by 6.8%.

What’s even more heartbreaking is that the reasons we in the crypto world shout for these three assets are the same: hedging, anti-inflation, and hedging against fiat currency depreciation.

| But the market only recognizes silver and gold

The specific numbers are as follows:

Silver: increased by 150% in 2025, from $28.86 at the beginning of the year to now $72.18, a historical high.

Gold: increased by 70% in 2025, from $2628 at the beginning of the year to now $4490 / ounce, a historical high.

Bitcoin: decreased by 6.8% in 2025, from $93,425 at the beginning of the year to now $87,064.

Seeing these three numbers, I felt a bit dazed.

In October, we were still celebrating Bitcoin breaking $120,000, everyone shouting 'digital gold.' Just two months later, real gold and silver are hitting new highs, while we've dropped 30% from our peak.

| Why has silver surged so sharply?

Mainly three reasons: geopolitical tensions have driven safe-haven funds into precious metals; silver is a 'new economy metal' used in AI data centers, solar power, and electric vehicles, and has been in supply shortage for five consecutive years; and expectations of Federal Reserve rate cuts have pushed capital toward precious metals.

After reviewing these reasons, I suddenly realized: these are exactly the arguments we've been making in the crypto space all along—safe haven, inflation hedging, monetary easing...

Yet now, safe-haven capital has chosen silver and gold, not Bitcoin.

Someone in the group said: 'Apparently, when it comes to risk aversion, physical assets are still preferred over virtual ones.'

That statement left me silent—not because Bitcoin is 'virtual,' but because I sensed that the market has redefined 'safe haven' in 2025.

Silver is supported by tangible industrial demand, gold has been a hard currency for thousands of years; while we've always called Bitcoin 'digital gold,' this year the market voted with its feet, reclassifying it as a 'very high-risk asset.'

On Twitter, discussions are growing—some say 'I wish I had bought silver,' others lament 'crypto farmers have tough luck,' while some still believe 'bear markets are opportunities.'

But I think this might actually be a good thing.

In October, we stood at a high of $126,000, everyone gripped by FOMO; now at $87,000, ETF outflows, retail sentiment is low.

This is the moment we've been waiting for—'be fearful when others are greedy' (not saying it's time to bottom pick).

I admit, seeing silver hit a new all-time high, I felt envious.

But after calming down, I realized silver's recent surge was a short-term explosion driven by geopolitical tensions and industrial demand. Bitcoin's narrative has never been about 'short-term safe haven,' but 'long-term value storage.'

In 2022, when Bitcoin was at $15,000, almost no one imagined it would rise to $120,000. Now at $87,000, the market is fearful—but this is just part of the cycle.

Markets are always cyclical. Silver surged 150% this year, but that doesn't mean it will continue next year. Bitcoin, since its inception, has repeatedly proven itself with higher prices after every 'crushing' moment.

So: allocate to traditional assets if needed, but don't leave crypto behind—there are still plenty of opportunities here.

I'm not envious that silver rose 150%—I didn't realize it at the time. But I don't want to miss Bitcoin rising from $87,000 back to $120,000, or even $150,000.

This article isn't to say Bitcoin will definitely rise—the market's movements are unpredictable.

I just want to record how I felt on December 25, 2025, when lazy orange saw silver hit a new high: envious, but not regretful; confused, yet still optimistic.

After all, when the market gives you fear, it's often also giving you opportunity.