Everything but Bitcoin is rising… Silver price hits highest in 45 years

Weakness in the virtual asset market, including Bitcoin (BTC), is standing out in global asset markets. International silver prices have surged relentlessly, setting a record high and rising into the top ranks of global asset market capitalization, while Bitcoin — long called "digital gold" — remains trapped in a trading range and has been slow to find signs of a rebound.

According to the industry, international silver prices surged more than 10% intraday on the 27th (local time), breaking through $79 per ounce and setting a new record high. Silver is currently trading around $78.58 per ounce.

According to CompaniesMarketCap data, as of that day silver's market capitalization swelled to about $4.485 trillion. This narrowed the gap with the second-largest market cap, NVIDIA (about $4.638 trillion), to less than 4%. With big tech stocks stalling, analysts say physical assets like silver are rapidly absorbing global liquidity.

By contrast, the Bitcoin market still has not escaped its stagnation. Based on the Binance Tether (USDT) market, Bitcoin continued to hover around $87,000 that day with little volatility. Major altcoins, including Ethereum (ETH), also appear unable to secure clear upward momentum.

Peter Schiff, a prominent Bitcoin skeptic and CEO of Euro Pacific Capital, diagnosed this as "a massive movement of funds beginning." He warned on his X (formerly Twitter) account the same day that "the surge in silver prices will have the opposite effect on Bitcoin," adding that "as investors leave virtual assets with no intrinsic value and move to commodities whose physical value is verified, Bitcoin prices could undergo a sharp correction."

In fact, preference for physical assets is becoming clear even within the virtual asset market. The tokenized commodities market based on crypto assets has recently grown to around $4 billion. The interpretation is that investors are increasingly using blockchain technology while choosing physical assets such as gold and silver as their investment targets.