Last night, a strange event occurred in the global financial markets.

Gold plummeted 10%, and silver crashed even more, by 30%. Even more bizarre, Bitcoin did not absorb any of the sell-off.

This shattered many people's perceptions. Logically, when traditional safe-haven assets collapse, funds should flow into Bitcoin. But the reality is quite different; BTC remained unmoved.

I stayed up all night researching and discovered a neglected truth.

There is a huge price gap between gold and silver prices in China and the US. The same ounce of gold is priced completely differently in China and the United States.

What does this indicate?

In China, people buy real gold and silver to take home and store. In the US, people trade paper wealth on exchanges.

It's like the difference between buying a house to live in and flipping houses for speculation—fundamentally different.

Therefore, when paper gold in the US crashes, physical gold in China remains relatively stable. This also explains why Bitcoin didn't absorb the sell-off, because this decline is essentially a technical adjustment of futures contracts, not a collapse of genuine safe-haven sentiment.

This event gives us a profound insight: in this era, what you hold is more important than how much you hold.

Physical gold may not be as flexible as futures, but at critical moments, what you hold in your hands is truly yours. The same applies to Bitcoin—coins stored in your wallet are fundamentally different from those stored on exchanges.

When paper wealth evaporates instantly, only assets you truly control can give you a sense of security. Perhaps this is why more and more smart money is re-evaluating what true wealth really is. #贵金属行情下跌