Can Bitcoin recover as gold plunges from record highs? Analysts weigh in
Analysts suggest Bitcoin may be bottoming out as gold's rally stalls, potentially triggering a significant BTC rebound.Summary
Bitcoin (BTC) is showing signs of bottoming as gold (XAU) pulls back after hitting a record high near $4,380, with its daily RSI indicating an overbought condition.
Some analysts see this inverse behavior as a signal for a BTC rebound. Analyst Pat noted that the Bitcoin-to-gold ratio has fallen to levels historically associated with market bottoms (seen in 2015, 2018, 2020, and 2022), each preceding massive rallies for Bitcoin. Analyst Alex Wacy also pointed to similarities with gold's 2020 peak coinciding with a local Bitcoin bottom.
Despite gold's pullback, HSBC maintains a bullish long-term outlook, projecting XAU could reach $5,000 by 2026 due to geopolitical tensions and economic uncertainty. Meanwhile, Bitcoin's outlook remains optimistic, with JPMorgan predicting BTC could hit $165,000 in 2025, arguing it is undervalued relative to gold, and analyst Charles Edwards suggesting a breakout above $120,000 could quickly push BTC toward $150,000.
(Source：Cointelegraph)