The market is currently experiencing a significant surge, particularly in the precious metals space. Gold prices hit a new high of $2,720, while silver reached an 11-year high of $33.7 an ounce. Gold has gained 31% this year and is on track for its best annual performance since 1979.

Gold prices continue to rise in parallel with the strength of the US dollar. Despite the strength of the U.S. dollar, capital markets still tend to flow into U.S. stocks and precious metals markets. The current geopolitical tensions, such as the continuation of the Ukraine-Russia war and reports of North Korea sending troops to the European battlefield, have caused capital to seek safe havens, and gold has naturally become the first choice.

Investors' expectations that Trump may be elected as the 60th president have increased their confidence in the economic development of the market outlook, which is one of the reasons for the strength of the US dollar. Against this backdrop, Bitcoin (BTC) may need to trade sideways at current levels for a while before making another upward push. As for altcoins, due to low capital inflows, most of them are in the flat stage and the market vitality is insufficient.

The coming week will be critical for the market as it may provide more clues about future price movements. Investors should pay close attention to market dynamics and any political or economic events that may affect market trends.