Core Insights - The current market dynamics are heavily influenced by fear, leading to a significant influx of capital into safe-haven assets such as gold, bonds, high-quality equities, and cryptocurrencies [1][2]. Gold Market - Gold prices have shown a remarkable upward trend, increasing nearly +45% over the past ten months, from approximately $2,640 in late 2024 to a peak of $3,824 [2]. - The total market capitalization of gold has inflated by nearly $4 trillion recently, now exceeding $25.2 trillion, reflecting a substantial capital shift into this asset [4]. - This surge in gold's market cap indicates its role as a liquidity sponge, suggesting that institutional investors are preparing for potential economic turbulence [4]. Cryptocurrency Market - Despite the significant rise in gold, Bitcoin has maintained a steady position above $110,000, rebounding from a sharp dip on September 22 [2]. - Analysts remain optimistic about Bitcoin's potential, with predictions suggesting it could surge above $200,000, with a fair value estimated at $250,000 [5]. - The expanding global money supply, with M2 growing nearly +9% over the past year, positions Bitcoin as a prime beneficiary of this liquidity influx [6].