#Strategy加码BTC配置 ZEC, DOGE, SHIB have been looking interesting lately.

An intriguing phenomenon: gold broke through 4550, silver soared to $80, but BTC is instead consolidating here—at first glance, it seems unreasonable, but this is actually an old trick.

During the 2020 market rally, gold and silver moved first, hitting new all-time highs, then funds started shifting to other sectors. You all know the final result—Bitcoin surged from $12,000 to $65,000, and the total market cap of the crypto sector skyrocketed by 8 times. That period is still vivid in memory.

Now, the scene feels familiar. Precious metals are reaching new highs again, and BTC has been sideways for months. This rhythm is almost a copy-paste of mid-2020. Looking at some liquidation events in 2025, they perfectly echo the crash in March 2020—like the market is operating on a certain cycle.

But there are obvious differences too. The last rally mainly relied on the Fed’s liquidity support, but this time, the driving forces are much more complex:

Regarding liquidity, the tap has already been turned on. Rate cut expectations are still releasing benefits. Banks’ leverage capacity is expanding, and if the SLR exemption truly comes through, it could free up trillions in funds. Regulatory frameworks are becoming clearer, and the door to compliance is truly opening. There are also new variables at the policy level—the new US administration’s pro-crypto stance is heating up. Plus, institutional-grade tools like spot ETFs are continuously launching.

These factors are not acting alone but are resonating together.

The most noteworthy is the personnel change at the Federal Reserve—the new chair’s attitude towards crypto could become a key variable, and the market is already digesting this expectation in advance.

How should we view this now? The simplest logic is: the rise of precious metals is not the end, but rather a signal of capital rotation. Historical patterns are clear—when gold and silver’s rally begins to slow, large amounts of funds will seek the next safe haven + growth assets. The crypto market is often the next stop.

BTC’s sideways movement doesn’t mean there’s no opportunity; instead, it might be a brewing storm. For those patient enough, this waiting period is actually a good time to accumulate. Once funds really switch direction, the market’s speed will be so fast that you won’t be able to react.

Whether you can seize this wave of era dividends largely depends on how well prepared you are.