Analyst: Bitcoin may continue to weaken relative to the US stock market, and fund rotation is unlikely to occur in the short term Odaily Planet Daily News: Cryptocurrency analyst Benjamin Cowen said that the current downward trend of Bitcoin may not end briefly as some holders expected. Bitcoin is likely to continue to weaken relative to the stock market, "Cowen pointed out in a video on Thursday, stating that the market's expectation of large-scale capital rotation from precious metals such as gold and silver to cryptocurrency assets may be overly optimistic. Recently, the prices of precious metals have continued to strengthen. Data shows that the prices of gold and silver have risen to historic highs of $5608.33 and $121.64, respectively. Citigroup further predicts that silver may rise to $150 in the next three months, driven by demand in China and the US dollar falling to a four-year low. However, Cowen believes that a short-term rotation of domestic funds towards Bitcoin is unlikely to occur. Although many opinions in the cryptocurrency market believe that a new high in precious metals is often a precursor to Bitcoin's subsequent rebound, he emphasized that the current cyclical structure does not support this judgment. As of press time, Bitcoin was reported at $82859, down 7.78% in the past 7 days. At the same time, market sentiment continues to weaken, with the crypto fear and greed index dropping to 16, in the "extreme fear" range.