Huobi HTX Chief Analyst Cloud: In the era of high interest rates, US Treasuries, gold, and BTC each have allocation value.

Huobi HTX chief analyst Cloud said on November 12 during the eighth session of the exchange's live "Huobi Master Class" series that the high-interest-rate environment is reshaping global asset pricing, with U.S. Treasuries, gold and BTC each offering distinct return sources, risk profiles and portfolio roles. Short-term Treasuries, with relatively stable coupon income, are better suited to defensive positioning; gold primarily serves as a credit-risk hedge and diversification tool; and BTC, given its high volatility, should be watched through the lenses of macro liquidity, market risk appetite and institutional fund flows. Cloud analyzed asset performance across four macro scenarios—soft landing, stagflation, recession and renewed inflation—and stressed that no single asset works in all conditions, only different role assignments. He urged investors to prioritize risk management and portfolio allocation over single-asset bets amid the ongoing global asset repricing.