According to @BullTheoryio, 2025 returns were Silver +160%, Gold +66%, Nikkei +29%, Hang Seng +29%, DAX +24%, FTSE +22%, Nasdaq +21%, S&P 500 +17%, SGX +14%, CAC +11%, and Bitcoin (BTC) -5% (source: @BullTheoryio on X, Dec 31, 2025: https://twitter.com/BullTheoryio/status/2006401953316901045). According to @BullTheoryio, metals outperformed all listed indices, with silver beating gold by 94 percentage points and outperforming the top equity cohort by 131 to 149 percentage points based on the reported figures (source: @BullTheoryio on X, Dec 31, 2025: https://twitter.com/BullTheoryio/status/2006401953316901045). According to @BullTheoryio, BTC’s -5% return underperformed every equity index cited by 16 to 34 percentage points and lagged gold by 71 percentage points despite what the source describes as large ETF inflows (source: @BullTheoryio on X, Dec 31, 2025: https://twitter.com/BullTheoryio/status/2006401953316901045). According to @BullTheoryio, derived spreads include Silver vs Gold +94 pp, Silver vs Nasdaq +139 pp, Gold vs Nasdaq +45 pp, BTC vs Gold -71 pp, and BTC vs S&P 500 -22 pp, highlighting relative performance differentials that are relevant for trading comparisons (source: @BullTheoryio on X, Dec 31, 2025: https://twitter.com/BullTheoryio/status/2006401953316901045).

According to The Kobeissi Letter, silver prices have climbed 24% year-to-date and are now trading at their highest levels since 2012, signaling strong momentum in precious metals markets (Source: The Kobeissi Letter, Twitter, June 5, 2025). This surge in silver is drawing increased interest from crypto traders, as rising precious metal prices often correlate with heightened volatility and demand for alternative assets like Bitcoin and Ethereum. Trading strategies may shift towards leveraging the gold-silver ratio and tracking capital flows between metals and major cryptocurrencies, given the current macroeconomic environment.