Gold has recently hit new all-time highs, reaffirming its status as a safe haven during economic uncertainty. Surprisingly, Bitcoin, commonly seen as its digital counterpart, lags behind. Why is the cryptocurrency not mirroring the upward trend of the yellow metal? Analysis of key signals.
Bitcoin has delivered an impressive performance this week, reaching $112,000 on Bitstamp, representing a gain of nearly 2% in a single day. This progress closely followed gold’s trajectory, which also hit new historic highs above $3,500 per ounce.
This shared bullish momentum between Bitcoin and gold is no coincidence. Both assets are considered safe havens during periods of economic uncertainty. Their prices tend to move in parallel, responding similarly to macroeconomic indicators.
However, despite this upward breakthrough, analysts remain cautious about the strength of this movement. Some point out that the BTC price has not yet confirmed a sustainable trend reversal. The risk of a correction toward $100,000 remains very real.
Popular trader Roman has cautioned against a pullback scenario in the coming days. According to him, Bitcoin could quickly return to test the $100,000 support, a critical level for the continuation of the current bull run.
“I see no reason why we wouldn’t witness a return toward $100,000 in the next few days,” he stated. Breaking below this psychological threshold could indeed signal the end of the current bullish cycle, warns the expert.
This caution is also explained by September’s seasonality, historically unfavorable for Bitcoin performance. According to economist Timothy Peterson, the third week of the month is systematically marked by losses for the leading cryptocurrency, with an average decline of 5% since 2013.
As a result, savvy investors will keep a close eye on BTC price evolution in the coming days. Maintaining above $100,000 would be an encouraging signal for the continuation of the bull run. Conversely, breaking below this crucial threshold would seriously call into question the current bullish momentum.
Although Bitcoin has managed to align with gold’s strong progression this week, technical signals remain mixed. Caution is warranted in the face of unfavorable seasonal context and warnings from experienced traders. The next few days will be decisive for the future of the ongoing bull run.
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