The global market capitalization of gold and silver has evaporated by $7 trillion—will bitcoin follow suit?

According to CoinWorld, the gold and silver markets have experienced a historic $7 trillion sell-off, with prices plummeting—gold dropping by over 8% and silver by more than 25%. This sell-off is related to Donald Trump's nomination of inflation hawk Kevin Warsh as Chairman of the Federal Reserve, triggering a wave of leveraged position liquidations. Bitcoin, on the other hand, has shown relative resilience, falling only 7% amid the turmoil. Analysts point out that this event has wiped out approximately four times the total market capitalization of bitcoin from the precious metals market. Some believe that funds may shift towards digital assets such as bitcoin, but ongoing liquidity tightening could put pressure on all risk assets.