Behind the synchronized decline, macro uncertainty is the true director

Gold, silver, U.S. stocks, and cryptocurrencies all weakening simultaneously is rarely a coincidence. It usually indicates that macro variables are leading the market. Common triggers include: shifting interest rate expectations, escalating geopolitical risks, and tightening dollar liquidity. #Is this a bottoming or a wait-and-see in the current market

When the market cannot determine the future interest rate path, funds will prioritize reducing risk exposure. High-volatility assets are hit first, with cryptocurrencies reacting earliest, followed by U.S. stocks, while precious metals swing between "safe haven" and "liquidity squeeze" — sometimes also sold off to meet margin calls.

A typical feature of this phase is:
Good news can't push prices up, bad news causes quick declines.
Because funds are reducing positions rather than making directional bets.

Another hidden factor is quantitative and CTA strategies. When a trend forms, algorithmic funds tend to add to their positions, amplifying volatility. That’s why declines often accelerate rapidly.

Therefore, this cycle is more about systemic risk reduction driven by macro factors rather than a single market collapse.
If macro stability is lacking, the market will struggle to stabilize.
Without a liquidity rebound, any rally is mostly technical.