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Delphi Digital: Bitcoin may be approaching a liquidity inflection point, while gold has completed repricing during the easing cycle.

Delphi Digital: Bitcoin may be approaching a liquidity inflection point, while gold has completed repricing during the easing cycle.

Odaily星球日报Odaily星球日报2026/01/01 01:36
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According to Odaily, digital asset market research institution Delphi Digital posted on X, stating that the price of gold has risen by 120% since the beginning of 2024, marking one of the strongest historical increases. This surge occurred without the backdrop of an economic recession, quantitative easing, or financial crisis. Central banks purchased over 600 tons of gold in 2025, and the purchase volume is expected to reach 840 tons in 2026.

Since gold has historically led bitcoin by about three months at liquidity turning points, this trend is significant for the cryptocurrency market. Currently, gold has completed its repricing for the easing cycle, while bitcoin sentiment is still influenced by previous cycle simulations and recent pullbacks. The performance of precious metal assets is sending signals of policy easing and fiscal dominance. When precious metals outperform stocks, the market is pricing in currency devaluation rather than a collapse in growth. Volatility in the precious metals market could be a signal for the subsequent trends of other risk assets.

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