Global Financial Market Witnesses a Historic Moment!
According to data from CoinMarketCap, at 9:30 PM on the 18th, U.S. Treasury Secretary Bessent appeared in an interview with CNN, publicly responding to the recent downgrade of the U.S. credit rating by the renowned rating agency Moody’s. The price of Bitcoin immediately soared, ultimately breaking through the $106,000 barrier, briefly surpassing the price of gold, which was approximately $103,991 per kilogram at that time! This historic price crossover symbolizes the first formal challenge to the long-standing status of traditional gold as a safe-haven asset by digital assets. Peng Yun-xian, founder of the Taiwanese cryptocurrency exchange HOYA BIT, stated that the market has long referred to Bitcoin as “digital gold,” but today’s breakthrough has led the industry to generally recognize that Bitcoin’s role and potential far exceed what this title can express.
This historic overtaking represents a profound transformation occurring in the asset market. The leadership of traditional safe-haven tools is gradually waning, and digital assets are being seen as the new generation of stores of value and hedging tools. Unlike gold, Bitcoin possesses characteristics such as decentralization, borderless global transactions, instant settlements, high divisibility, and censorship-resistance, making it more suitable for playing a role in the rapidly developing digital economy within the modern financial system. This also means that the asset allocation strategies of institutional investors and central banks may undergo significant changes, with digital assets further integrating into the traditional financial system, reshaping the landscape of global financial markets.
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Bitcoin’s Strong Momentum Continues, Market Full of Confidence for the Future
In the past 24 hours, Bitcoin and the U.S. stock market experienced four intense “roller coaster” fluctuations, with Bitcoin peaking above $107,000 and dropping below $102,000 at its lowest. Despite the downgrade of the U.S. credit rating by Moody’s and the U.S.-China chip export dispute causing temporary market panic, the market quickly digested this negative news, with U.S. stocks turning from decline to gain. Bitcoin’s short-term turnover rate rose slightly, but the momentum was limited, indicating stable market sentiment.
As Bitcoin’s price continues to climb, the inventory of Bitcoin on exchanges has not accumulated but rather decreased, showing that more and more investors hold strong confidence in future trends. Even with significant price volatility, there has been no panic selling. Currently, Bitcoin’s strong support area is concentrated between $93,000 and $98,000, and this solid support stance remains unchanged; the chips around $102,000 are gradually accumulating. Peng Yun-xian analyzed that this could become a new support point. The simultaneous rise of U.S. stocks, gold, and Bitcoin reflects that while systemic risks are not evident, investors still maintain a cautious yet optimistic attitude towards the future.
Bitcoin Price Surpasses Gold, Market Role Being Reassessed
The recent surpassing of gold by Bitcoin in price reflects the gradual recognition of Bitcoin as a mainstream asset allocation tool by the investment market, moving beyond the simplistic positioning of traditional safe-haven tools. Peng Yun-xian analyzed: “The characteristics of decentralization, global circulation, high divisibility, and censorship-resistance that Bitcoin possesses have clearly surpassed those of traditional gold. The true value positioning of Bitcoin is just beginning to be gradually recognized by the market.” She further pointed out that Bitcoin is not merely a safe-haven asset but may gradually become an important infrastructure of the global financial system.
With Bitcoin’s price on the rise, former White House Communications Director and notable hedge fund manager Anthony Scaramucci stated that as global recognition and adoption of Bitcoin increase, it is expected to reach between $180,000 and $200,000 by the end of this year. Cryptocurrency analyst Scott Melker made an even bolder prediction that, supported by the continuous influx of institutional funds and decreasing market volatility, Bitcoin’s price could even break through $250,000 by the end of the year.
Key Market Observations for Investors
In light of the current market changes, Peng Yun-xian reminds investors to continue paying attention to several important dynamics. First, the response of the U.S. stock and bond markets after they reopen on Monday will be crucial, especially the market reaction following Moody’s downgrade, which will impact investor confidence and market sentiment. Additionally, the Federal Reserve’s potential policy response to recent market volatility, as well as possible adjustments to future monetary policy, will have a ripple effect on the global financial market.
The subsequent reactions of various countries to the new U.S. tariff policies, particularly regarding the future direction of U.S.-China trade relations, are also worth close attention from investors. Changes in trade policy will directly affect the outlook for U.S. economic growth, thereby influencing global demand for safe-haven assets. This historic event of Bitcoin’s price breaking through that of gold marks a significant shift in the structure of the global asset market. Investors should closely monitor changes in the global financial market, actively adjust investment strategies, and seize the enormous opportunities that the new financial era brings.