#比特币价格预测与投资主题 The excessive crowded long positions in precious metals have finally unraveled through profit-taking. The short-term overbought conditions in platinum, palladium, and silver are unsustainable, and this correction has released the previously suppressed risk exposure. The key factor is capital flow—shifting from overheated trades to relatively undervalued assets, with the crypto market serving as the recipient.

From an on-chain perspective, the logic behind this rebound is not complicated: it’s a rotation of funds driven by macro asset allocation adjustments. Precious metals decline → risk appetite recovers → funds seek undervalued assets. Bitcoin and Ethereum are indeed relatively undervalued in this cycle, providing a reason for major players to enter.

However, it’s important to note that the sustainability of this rotation-driven rebound depends on two factors: first, whether the decline in precious metals can stabilize at the bottom; second, the scale and speed of capital shifting. Currently, we need to continue observing the actual entry movements of whales and changes in on-chain trading volume, as these are the core signals to determine whether this rebound can hold. Short-term sentiment may follow the trend, but the medium-term trend still depends on the true attitude of capital.