Silver Outpaces Bitcoin in a Historic Rally – and the Bigger Move May Still Be Ahead
Spot silver surged to around $79.31 per ounce, posting a daily gain of more than 10% and accelerating a rally that has been quietly building momentum throughout the year.
- Silver surged above $79 per ounce, posting a double-digit daily gain and entering price discovery.
- Long-term trend indicators suggest the rally may still have room to run despite growing correction risk.
- Short-term momentum is extremely stretched, signaling higher volatility ahead.
- Silver has significantly outperformed Bitcoin in recent months, highlighting strong relative strength.
What stands out is not just the size of the move, but the speed. Silver has transitioned from a steady uptrend into near-vertical price action, a phase typically associated with strong conviction buying and forced positioning rather than speculative drift. Volume has expanded alongside price, reinforcing the idea that this breakout is being driven by real participation rather than thin holiday liquidity.
The breakout also pushed silver decisively above prior resistance zones that capped price action for years, flipping long-term ceilings into potential support levels. From a market structure perspective, this marks a shift from accumulation to full price discovery.
Long-term charts suggest the rally may not be over
Veteran technical analyst Peter Brandt believes the move may still be in its broader expansion phase. Focusing on quarterly data and trend strength rather than short-term oscillators, Brandt pointed out that silver remains far from exhaustion on his preferred indicator, the ADX.
In his view, the current structure leaves room for much higher prices over time, with upside scenarios extending toward the $147 region. That doesn’t mean a smooth ride higher. Brandt emphasized that powerful commodity rallies are often interrupted by sharp, emotionally driven corrections, sometimes without much warning.
Source: Peter Brandt X
The key question, according to this framework, is not whether silver eventually corrects, but where a large, multi-quarter pullback might originate. Until trend strength meaningfully deteriorates, the long-term bias remains skewed to the upside.
Momentum indicators flash extreme conditions
On shorter timeframes, silver is already showing signs of overheating. Daily RSI readings have pushed deep into overbought territory, reflecting intense upside momentum rather than immediate reversal signals. Historically, silver has been capable of staying overbought for extended periods during strong trend phases, especially when macro and positioning forces align.
MACD continues to expand higher, with widening separation between signal lines, a sign that momentum is still accelerating rather than rolling over. While this doesn’t eliminate correction risk, it suggests that any pullback could initially be shallow or violently bought before a more meaningful reset occurs.
Traders watching these indicators are increasingly focused on volatility rather than direction. When silver reaches this stage, price swings tend to grow larger, even if the dominant trend remains intact.
Silver overwhelms Bitcoin on a relative basis
The rally looks even more extreme when silver is compared to Bitcoin rather than the U.S. dollar. Crypto analyst Daan Crypto Trades highlighted that silver has dramatically outperformed BTC over the past several months.
According to his analysis, silver has gained roughly 190% relative to Bitcoin in just four months. For comparison, Bitcoin required more than a year to deliver a similar relative move during its 2024–2025 advance. The BTC-versus-silver ratio has now fallen back below levels last seen near Bitcoin’s 2017 highs, underscoring just how aggressive silver’s relative strength has become.
This shift suggests capital rotation rather than simple dollar weakness. In previous cycles, similar relative moves tended to occur during late-stage commodity expansions, when traditional safe-haven narratives collide with supply constraints and speculative momentum.
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Price discovery brings opportunity and risk
Silver now sits firmly in price discovery mode, a phase where historical reference points offer little guidance. Sellers appear reluctant, dips are quickly absorbed, and sentiment has flipped from skepticism to urgency in a matter of weeks.
At the same time, history suggests that silver rarely moves in straight lines for long. Once momentum stalls, corrections can be swift and deep, even within broader bull markets. That makes risk management increasingly important as price continues to stretch away from longer-term averages.
For now, silver remains firmly in control of the tape. Whether this surge marks the early stages of a much larger structural repricing or the final acceleration before a major shakeout will likely be determined not by headlines, but by how the market reacts once the first serious pullback arrives.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
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