- Bitcoin shows oversold signals, hinting at possible long-term recovery ahead.
- Gold outperforms as investors seek safety amid market volatility and uncertainty.
- Analyst predicts Bitcoin could hit $1.5 million within year.
According to Crypto Rover, Bitcoin’s performance against gold is entering a critical technical phase as historical data reveals oversold conditions not seen in years. The BTC-to-gold (BTC/XAU) ratio has consistently aligned with halving cycles, signaling possible trend reversals that typically precede strong market recoveries.
Over the past decade, three notable cycles—in 2013, 2017, and 2021—saw Bitcoin outperform gold before corrective pullbacks appeared in 2018, 2022, and mid-2024. These alternating phases highlight how Bitcoin’s bullish runs often follow periods when gold temporarily regains strength. At present, the ratio’s Z-Score, a key statistical indicator of market extremes, hovers near historic lows, suggesting Bitcoin may be entering another accumulation phase that could pave the way for a long-term rebound.
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Gold’s Strength Contrasts Bitcoin’s Short-Term Pressure
Bitcoin traded around $106,855, posting a slight 0.36% daily gain while facing downward pressure from recent weekly and monthly losses. Despite these declines, the cryptocurrency remains resilient, boasting a 25.46 rise in six months and a 14.51% increase since the start of the year. Over the past twelve months, it has gained 58.61%, with institutional demand and ETF inflows supporting its broader momentum.
Meanwhile, gold has maintained a strong uptrend as investors favor stability amid global uncertainty. The metal pulled back to $4,253.97 after reaching a record high of $4,380, reflecting a modest 1.67% daily decline. Even with the dip, gold’s year-to-date rise stands at 62.05%, backed by robust safe-haven demand. Over five years, it has climbed 123.97%, reinforcing its reputation as a reliable store of value during turbulent markets.
Expert Forecasts Bitcoin’s Potential to Match Gold’s Market Size
Adding to the discussion, Mexican billionaire Ricardo Salinas Pliego projected that Bitcoin would need to rise roughly fourteenfold to match gold’s $30 trillion market capitalization. With the current price hovering near $106,855, this would place Bitcoin’s target at approximately $1.5 million per coin. Salinas expressed optimism that such levels could be achieved within the next year, underscoring a growing belief among some investors that Bitcoin’s next major cycle may already be forming.
Bitcoin’s historical correlation with halving cycles, paired with current technical signals, points toward a possible accumulation stage. While short-term volatility persists, long-term indicators continue to attract attention from analysts anticipating the next wave of institutional capital.
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