In a risk-averse market, gold embodies consensus, while Bitcoin represents confidence.

This is not to say that there is a problem with the two types of assets themselves, but rather that the popularity has not yet refocused here. Gold has gone through thousands of years, and the market's perception of it has formed a kind of collective default; while Bitcoin needs continuous confidence support from market participants.

From this perspective, asset quality is not the determining factor; the key is to see where the market psychology lies. When retail investors and institutions refocus their attention, confidence will follow, and the market trend will naturally reflect that. This psychological cycle is particularly evident in the crypto market — prices not only follow the fundamentals but also the rhythm of people's sentiments.