Bitcoin Market Cap was ahead of Silver six months ago, now only 28% of it

BlockBeats News, January 26th, along with today's silver spot price breaking through $110 per ounce, the total market value of the commodity has reached $6.149 trillion, a year-on-year increase of 257%, jumping to the world's second-largest mainstream asset by market value. At the same time, Bitcoin fell by 14%, with a market value now at $1.754 trillion, making the silver market value 3.5 times that of Bitcoin.

It is worth noting that Bitcoin's market value was once ahead of silver six months ago. On September 1st last year, during a decline in Bitcoin, silver surpassed it, with Bitcoin's market value at around $2.183 trillion at that time.

However, some views point out that the rise in silver and other precious metals is driven by short squeezing. Once a reversal begins, funds will flow into Bitcoin and Ethereum.