Is the US dollar's position shaking? Analyst: By 2026, gold and silver will continue to rise, and Bitcoin is expected to see a rebound rally.

As the US dollar outlook is increasingly questioned, gold and silver continue to lead the global asset markets. Analysts point out that this surge in precious metals not only reflects market hedging demand but may also signal a structural shift in the international monetary system. Meanwhile, Bitcoin, which has lagged behind, is being reevaluated by the market for its potential to catch up.

(Background recap: Bitcoin frenzy, altcoins buried: a two-year bull market review, why are your assets shrinking?)
(Additional context: The four-year cycle of Bitcoin is dead! Bitwise Chief Investment Officer: The crypto market has entered a ten-year endurance battle)

As Bitcoin’s price retreated after reaching a historic high in October, the focus of global capital markets has shifted to precious metals. According to Forbes, several market analysts indicate that after a strong rise in gold and silver in 2025, there remains significant upside potential into 2026. This wave of precious metals rally could also serve as a key catalyst for a new wave of Bitcoin price explosion.

Structural Shift in the Monetary System

Currently, Bitcoin is trading around $90,000, significantly below its previous all-time high of $126,000. In contrast, gold and silver have recently performed well, repeatedly hitting new highs, indicating that capital is accelerating into traditional safe-haven assets.

In response, Ramnivas Mundada, Director of Economic and Corporate Research at GlobalData, pointed out that this is not merely a safe-haven rally but a deeper structural transformation. He believes that the international monetary system is gradually shifting from a unipolar structure centered on the US dollar toward a more multipolar landscape. According to his forecast, by 2026, gold prices could still rise by 8% to 15%, while silver could increase by 20% to 35%.

Mundada further analyzed that the factors supporting this trend include: slowing US economic momentum, rising geopolitical risks, ongoing global trade frictions, and central banks accelerating de-dollarization efforts, gradually reducing the dollar’s share in foreign exchange reserves. Additionally, the market widely expects the Federal Reserve to further cut interest rates in 2026, providing medium- to long-term support for precious metals prices.

Moreover, political uncertainties in the US have deepened market doubts about the dollar’s long-term prospects. US President Trump is evaluating candidates for Federal Reserve Chair, with widespread speculation that potential candidates favor more aggressive rate cuts, which could further weaken the dollar’s attractiveness.

Against this backdrop, some market observers have issued more radical warnings about the dollar’s long-term status. Renowned gold bull and Chief Economist at Europe Pacific Asset Management, Peter Schiff, bluntly stated that the dollar’s dominance is facing structural challenges, and in the future, gold may once again become the core reserve asset for central banks worldwide.

Bitcoin Is Expected to Experience a Catch-up Rally

It is worth noting that despite gold and silver continuing to rise, Bitcoin has not synchronized with the rally recently, sparking discussions about its “undervaluation.” For example, Hasegawa Hiro, an analyst at Japan’s cryptocurrency exchange Bitbank, pointed out that with signs of overheating in US stocks and traditional assets like precious metals, Bitcoin’s current valuation remains relatively conservative, potentially attracting value-based capital inflows in the future.

Overall, analysts believe that as global capital allocation gradually adjusts and the US dollar faces challenges, if gold and silver continue their strong momentum, a catch-up rally in Bitcoin may only be a matter of time.