China's silver export curb on 01 January and Bitcoin's Q1 2026 stress test

China's export controls on silver begin on 01 January, intensifying a metals rally as Bitcoin faces a key test into Q1 2026. In Q4 2025, silver surged 70% to an all-time high of $79/oz while BTC fell 25% after early-October tariff headlines. Analysts say institutions now hold 50–60% of silver supply, tightening flows.