The market cycle in 2025 saw precious metals (especially silver), copper, and other commodity assets perform remarkably well. The A-shares and European-American stock markets also fared quite well (with the technology growth sector leading). Although US Treasury bonds offered attractive yields, their overall ranking was lower. The currencies USD, RMB, and commodities like oil and gold were relatively weak.

Looking back at the asset class rankings for this year: Precious metals > Copper > A-shares ≈ European and American stocks > Euro > US Treasuries > RMB > ChinaBond > USD > Oil.

As we move into 2026, the game may need to be reshuffled. Based on macro cycles and policy signals, the priority of asset allocation will be adjusted as follows — US stocks become the top choice, with BTC closely following (cryptocurrencies have clear cyclical characteristics), gold remains stable, and there are opportunities in copper and silver. Although US Treasuries offer good yields, their ranking declines. The A-share index performance is expected to be average, and RMB, ChinaBond, USD, and oil will continue to face pressure.

In simple terms, to seize opportunities in 2026, you should shift your focus from commodities to equities and cryptocurrencies, especially leading assets like BTC, which may be more worth paying attention to than traditional safe-haven assets.