Yeliz Akmaca 
Silver prices surged past 63 dollars today, marking a historic all-time high and signaling a renewed shift toward safe-haven assets. The crypto market, meanwhile, lost nearly 3 percent during the same period. This sharp divergence has sparked new debates about where capital is really flowing. Investors are now questioning whether silver’s rally represents a defensive move or the beginning of a broader risk-on cycle.
Silver’s rapid ascent has offered a major signal that global economic pressures are intensifying. Yet some analysts argue that the move cannot be explained solely by a search for safety.
Why Is Silver Demand Rising?
Silver posted another record in Asian trading and accelerated its long-term upward trend. According to Companies Market Cap data, the metal’s total market value surpassed 3.5 trillion dollars, placing it among the strongest global assets. The Kobeissi Letter commented on the rally, stating:
“The current rally in Silver prices makes 2020 and 2008 look like a rounding error. A new era of monetary policy is coming.” This remark highlights that the move is part of a much larger structural shift rather than a short-term spike.
Physically backed silver ETFs purchased 15.3 million ounces in just four days. Trader Michael emphasized that this was not a routine wave of demand. He noted that physically backed ETFs have absorbed 15.3 million ounces in less than a week, underscoring the scale of inflows.
“Silver ETFs are now on track for their 10th straight monthly inflow. This has only happened during systemic stress events,” he said, pointing out the underlying pressure reflected in the fund movements. The SLV fund alone attracted nearly 1 billion dollars in a single week, outperforming gold-focused funds. Michael added, “The global monetary system is losing trust quietly, quickly, and from the inside out,” arguing that growing distrust is accelerating the shift toward silver.
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Bitcoin–Silver Performance Gap Widens
Bitcoin traded weakly during the same period, pulling back and increasing overall selling pressure in the market. Economist Peter Schiff stated, “Bitcoin has been losing value against silver for years,” highlighting the widening gap between the two assets. This perspective reinforces the narrative of a market leaning toward defensive positioning.
Can Bitcoin Recover After This Move?
Some analysts believe that silver’s strong momentum may eventually create room for Bitcoin to bounce. Neuner argued:
“Soon the sellers in BTC will dry up and the big catch-up trade will begin. The market is now in FULL risk-on mode and most people aren’t seeing it because Bitcoin isn’t moving! Silver is at all-time highs. It is on a breakout and climbing with acceleration. Silver is the beta gold and indicates risk-on!”
He suggested that diminishing sell pressure could trigger a powerful upward move. Expectations that the Fed’s latest policy shift may support risk assets further strengthens this view.
Silver’s historic surge shows how quickly global investor behavior is changing. Whether Bitcoin will follow this move now depends on how strongly demand recovers in the coming weeks.
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