Delphi Digital: Bitcoin may迎来 a liquidity turning point, gold completes the repricing within the easing cycle

Digital asset market research firm Delphi Digital stated on the X platform that gold prices have risen by 120% since the beginning of 2024, marking one of the strongest historical increases. This rise has occurred without an economic recession, quantitative easing, or financial crisis, with central banks purchasing over 600 tons of gold in 2025, and purchases expected to reach 840 tons in 2026.

As gold historically leads Bitcoin by about three months at liquidity inflection points, this trend is significant for cryptocurrencies. 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 signaling policy easing and fiscal dominance. When precious metals outperform stocks, the market tends to price in currency depreciation rather than growth collapse, and the volatility in the precious metals market may signal subsequent trends for other risk assets.