Gold prices hit record highs while Bitcoin lags..."Gold·silver rally must cool before a rebound"

While US stock and commodity markets are broadly strong, cryptocurrencies including Bitcoin (BTC) are showing relatively limited movements.

On the 23rd (local time), according to CoinDesk, the price of gold surged 2% to 4475 dollars per ounce, setting a record high. Silver prices also rose 1.6%, approaching 70 dollars intraday. At the same time, the Nasdaq and S&P 500 rose 0.6% each, while the dollar index fell 0.3%.

Meanwhile, Bitcoin topped 90,000 dollars in Asian and European trading before returning to around 89,000 dollars in early US trading. On a 24-hour basis it maintained gains, but its returns lagged behind major assets including gold and silver. Ethereum (ETH), Solana (SOL), and XRP (XRP) also closed higher but retreated from intraday highs.

Asset management research firm ByteTree said that as long as the precious metals market's strength continues, a full-scale rise in Bitcoin could be limited. ByteTree analysts wrote in the report, "It will be difficult for Bitcoin and cryptocurrencies to take the lead until the precious metals bull market is over."

However, they remained positive about medium- to long-term performance. ByteTree added, "In recent years, Bitcoin has recorded returns exceeding those of precious metals."