Small-Caps Soar as Silver Hits Record Highs and Bitcoin Climbs Above $97K
Small-cap stocks have recently experienced significant gains, outperforming large-cap counterparts, while silver prices have hit a new nominal record of approximately $93.50 per ounce. Bitcoin prices have also shown strength, climbing back above $97,000 per token.
Market Highlights
Small-Cap Performance: Small-cap stocks, such as those in the Russell 2000 index, have extended their outperformance streak against the S&P 500 for an extended period, the longest run since 2019. This rotation is driven by a massive valuation gap and expectations of potential Federal Reserve interest rate cuts, which disproportionately benefit debt-sensitive small-cap firms. The Russell 2000 also touched a fresh all-time high recently.
Silver's Record High: Silver's price has surged, reaching a new nominal all-time high of around $93.50 per ounce in the international market, a more than 210% climb in over a year. This parabolic move, following a 40-year consolidation period, is attributed to demand for safe-haven assets and may have room to run, with some analysts targeting the $100 level in 2026.
Bitcoin's Momentum: Bitcoin has shown bullish momentum, surpassing $97,000 and nearly reaching a two-month high amid rising geopolitical tensions. The rally is further supported by substantial inflows into spot Bitcoin ETFs, which saw over $1.71 billion in three days. Despite a recent price dip from its all-time high of over $126,000 in October 2025, the current rally is viewed by some as having further upside potential.
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