Silver’s price swings have surpassed Bitcoin’s volatility as markets head into the end of 2025, with traders increasingly moving macro risk into precious metals while cryptocurrencies remain range‑bound, according to market reports. Silver’s realized volatility has climbed into the mid‑50s, driven by a sharp rally and tight physical supply conditions, outpacing Bitcoin’s annualized 30‑day realized volatility, which has compressed into the mid‑40s amid subdued trading activity.
The divergence reflects contrasting market dynamics as 2025 draws to a close. Silver has surged more than 150% year‑to‑date, driven by increased industrial demand across sectors such as solar energy, electric vehicles, and electronics, as well as expectations of U.S. interest rate cuts that typically support commodities. A demand‑supply mismatch and anticipated export licensing rules taking effect in China from January 1 have further tightened the physical silver market, contributing to premiums in global trading hubs and backwardation in forward curves.
By contrast, Bitcoin has remained relatively stagnant through December, trading in a narrow price range and declining year‑to‑date from earlier highs. Holiday‑thin liquidity, fading demand for Bitcoin spot exchange‑traded products, and recent large options expiries that reduced open interest have all contributed to muted price action and lower volatility compared with silver. Traders currently assign a high probability that Bitcoin will remain above key support levels through early January, but expect limited prospects for sharp upside moves in the near term.
The shift in volatility patterns highlights broader repositioning among investors as traditional and digital asset markets respond to evolving macroeconomic signals. While Bitcoin continues to be viewed as a digital store of value with long‑term upside potential, silver’s pronounced price fluctuations underscore its dual role as both an industrial commodity and a speculative asset in times of market stress and shifting investor sentiment.
Gold, silver prices hold steady as bullish trend persists
