As the global financial landscape grows ever more complex, investors in Vietnam and beyond are facing a whirlwind of shifting trends, from surging credit and fluctuating cryptocurrencies to the timeless allure of gold. With each asset class behaving in its own unpredictable way, the choices—and risks—are multiplying for those trying to preserve or grow their wealth in 2025.
On September 7, 2025, the cryptocurrency world was, as usual, abuzz with speculation and caution. According to Blogtienao, Bitcoin, the world’s largest digital currency, was locked in a tight trading range, fluctuating between support levels of roughly $106,700 to $107,600 and resistance near $113,000 to $113,500. Every time Bitcoin’s price dipped into that support zone, buyers swooped in, but the higher resistance band stubbornly refused to yield, capping any sustained upward momentum. As one analyst described it, this is a textbook case of consolidation: "The price rises, gets rejected, falls back, then bounces again. Until one of these walls breaks, Bitcoin is likely to keep moving sideways."
Technically, Bitcoin remains in a bullish uptrend, as indicated by a persistent green supertrend signal on weekly charts. Yet, there’s a catch. A significant bearish divergence has been brewing for over a month, signaling that momentum is fading. This often precedes increased price volatility before a decisive move emerges. Even on the three-day chart, the MACD—a popular momentum indicator—was inching toward a bullish crossover, but its pace was slowing rather than accelerating. For traders hoping for a breakout, patience is the name of the game.
The stakes are clear: if Bitcoin finally manages to break above $113,500, the next target looms around $117,000. But if it slips below $106,800, sellers could seize the upper hand, potentially dragging prices down to deeper support levels. Notably, liquidation data points to hotspots at both ends: $113,800 to $114,000 on the upside, and $106,800 to $107,100 on the downside. That means Bitcoin could whip through both zones, triggering stop-losses above resistance and below support, before settling back into its sideways groove.
What does this mean for the wider crypto market? Bitcoin’s dominance has ticked up slightly, a trend that’s historically bad news for altcoins—at least in the short run. When capital flows back into Bitcoin, other cryptocurrencies tend to stall. Ethereum, for instance, was stuck between $3,900 and $4,900, mirroring Bitcoin’s indecision, while Solana was also showing new patterns but had yet to break out. In short, the wider crypto market is holding its breath, waiting for Bitcoin to make its next big move.
Meanwhile, traditional assets like gold are enjoying renewed attention as investors seek stability amid the volatility. As reported by An Ninh Tien Te, gold remains a favored "safe haven"—but making it work as an investment is no simple feat. Experts advise that successful gold investing requires a broader perspective than merely tracking daily price swings. Several factors are at play:
First, monetary policy and interest rates matter. Gold prices often move inversely to real interest rates; when these rates fall, the opportunity cost of holding gold drops, making it more attractive. The actions of the Federal Reserve and other major central banks are thus closely watched. In 2024–2025, speculation about interest rate cuts has been a daily obsession for investors.
Second, political and economic instability—be it crises, wars, or trade tensions—tends to boost demand for gold. Historically, whenever uncertainty rises, gold becomes the go-to alternative to cash. With regional and global tensions still simmering, gold’s role as a financial sanctuary remains strong.
Third, domestic factors like consumer purchasing power and market psychology can have a surprising impact on local gold prices. During major holidays, weddings, or sudden waves of hoarding sentiment, demand can spike, creating significant price gaps between domestic and global markets. This makes short-term trading in physical gold riskier for those not closely tracking real demand.
Fourth, gold’s reputation as a store of long-term value is well deserved. While daily or weekly price swings can be dramatic, decades of data show that gold tends to hold its value over time. As a result, experts recommend treating gold as a defensive addition to a portfolio—ideally 5–10%—rather than chasing quick profits.
Fifth, investment tools and technology have changed the game. No longer limited to buying gold bars or jewelry, investors can now access gold through ETFs, futures contracts, or online trading platforms. These innovations boost liquidity and offer new ways to diversify, but they also come with risks, especially for those unfamiliar with leveraged products.
Finally, discipline and regular portfolio rebalancing are essential. Gold should be viewed as one piece of the overall investment puzzle, not a standalone bet. By periodically rebalancing, investors can limit risk and avoid getting swept up in short-term market noise.
Since the start of 2025, global gold prices have repeatedly hit new records, driven by persistent inflation, a weakening U.S. dollar, and net buying from central banks. Domestically, prices of gold bars and jewelry have also climbed to new heights, reflecting both a psychological urge to accumulate and a desire for safety. Clearly, gold remains a complex, multifaceted investment, shaped by macroeconomic forces and market sentiment alike.
Yet, the backdrop for all these investment decisions is a Vietnamese banking sector experiencing unprecedented credit growth. At a government meeting on September 6, 2025, Deputy Governor of the State Bank of Vietnam, Doan Thai Son, revealed that by the end of August, credit outstanding had reached 17.14 million billion VND—a staggering 11.08% increase over the end of 2024, and a whopping 20.19% higher than the same period last year. This marks the highest credit growth in years, far surpassing the long-term average of 14.5%.
But this rapid expansion is not without danger. Deputy Governor Son warned that such strong credit growth forces banks to ramp up capital mobilization, which in turn pushes up both deposit and lending interest rates. More credit also means more money circulating in the economy, raising the specter of long-term inflation. The basic inflation index has stubbornly remained above 3%, a level that’s causing concern among policymakers.
Prime Minister Pham Minh Chinh has called on the State Bank to keep interest rates stable and to push the banking system to lower lending costs, sharing the benefits with citizens, businesses, and the nation. Moreover, he emphasized the need to direct credit toward productive sectors that improve people’s lives, rather than fueling speculation. The Prime Minister also ordered a crackdown on banks that raise funds but lend little or not at all, with Deputy Prime Minister Nguyen Hoa Binh taking charge of inspections.
All of this is happening as the gap between credit growth and deposit mobilization widens—a challenge that could haunt the banking system through the end of 2025 and into 2026. If banks can’t attract enough deposits to match their lending, liquidity pressures will build, potentially forcing up interest rates and threatening financial stability. As SGI Capital warned, "Maintaining excessively low interest rates for too long will lead to a credit boom that outpaces mobilization capacity, affecting liquidity and putting upward pressure on rates. It’s even more dangerous if borrowed funds flow into speculative assets, driving up prices, causing inflation, and sowing the seeds of future bad debts."
Adding to the complexity, the Vietnamese dong (VND) continues to lose ground against the U.S. dollar, despite rising interbank rates and a relatively weak USD Index. As of September 4, the exchange rate stood at 26,380 VND per dollar, up 3.45% from the end of 2024. SGI Capital noted that while an imminent Federal Reserve rate cut and a weak USD Index are providing short-term support, if the VND’s depreciation approaches 4%, the State Bank may be forced to shift from loose monetary policy to exchange rate stabilization, possibly tightening liquidity and raising rates to defend the currency.
In this climate, investors face a daunting balancing act. Whether opting for the volatility of Bitcoin, the defensive qualities of gold, or navigating the risks and rewards of a rapidly expanding credit market, vigilance and adaptability are more crucial than ever. The interplay between macroeconomic policy, asset flows, and market psychology is shaping a financial environment where fortunes can shift in the blink of an eye.
For those watching from the sidelines—or from the thick of the action—the message is clear: keep your eyes open, your portfolio diversified, and your nerves steady. The only certainty in today’s markets is uncertainty itself.
