Is Bitcoin (BTC) Set for a Surge? Signals from Gold's Cooldown

As of now, Bitcoin is trading around $92,500, marking a 1% increase over the previous 24 hours. This recent uptrend has seen Bitcoin rise for five consecutive days, the longest such streak since October.

Trading volumes have also surged past $37 billion, with other major cryptocurrencies like Ethereum, Solana, and XRP seeing gains ranging from 0.7% to 3%.

Gold’s Slowdown and Bitcoin’s Rise

Analysts are noticing an interesting trend where Bitcoin tends to rise after gold shows weakness. Historical data spanning from 2016 to 2026 suggests that Bitcoin often rallies following periods when gold reaches its peak and then slows down. This pattern occurred notably in 2017 and 2020, both times after gold had hit a recent high before it experienced a downturn.

Michaël van de Poppe noted this forming trend, commenting,

“It’s very expectable to see a corrective period on gold.”
(Turkish: Altında düzeltici bir dönem bekleniyor.)

He anticipates that the next 1.5 to 2 years could be significant for Bitcoin and other cryptocurrencies, perhaps mirroring the price movements that followed past peaks of gold.

Currently, Bitcoin is above its prior resistance level and trading close to the values seen before its last drop. Van de Poppe highlights the $93,000 zone as critical before any potential surge towards $100,000.

“There we go! Final hurdle before $100K: that’s where #Bitcoin is currently at. I wouldn’t expect a clear-cut, immediate breakout; however, I do expect to see it happen in the coming week.”
(Turkish: Açık ve anlık bir kırılma beklemiyorum; ancak önümüzdeki hafta bunu yaşamayı bekliyorum.)

Short-term Predictions and Market Sentiment

Traders are also focusing on Bitcoin’s movement above $91,000, with immediate targets set at $93,000 and $94,600. As Merlijn said,

“As long as $88.5K holds, the bias remains up. Lose it? We switch to damage control.”
(Turkish: $88.5K tahvilse yukarı yönlü eğilim devam eder. Kaybedersek hasar kontrolüne geçeriz.)

Daan further mentioned the historical strength of Bitcoin during the first quarter, pointing out that even during downturns, prices in previous Q1s have shown stability. Observers are keen to see if this pattern holds as the new year approaches. Price estimates vary, with some analysts predicting that BTC could reach new highs exceeding $126,000 or even up to $210,000 in the coming year.