Gold just had its worst week in 43 years, and Bitcoin hasn’t followed suit.
Michael van de Poppe believes a target of $77,000 to $80,000 will form as Bitcoin continues to hit new lows since February.
Cathie Wood’s data shows that gold’s biggest moves have historically preceded Bitcoin’s biggest rallies.
The worst week for gold in 43 years has already occurred. The question now is what Bitcoin will do next.
Bitcoin is currently trading at $70,951, above the lows it has consistently recorded since the February crash. Gold is trading at $4,381, down more than 12% over the past week, and while silver has fallen to $68.8, Bitcoin hasn’t followed suit.
This divergence has caught the attention of multiple analysts, and the reading across them is particularly consistent.
Technical setup
Michael van de Poppe flagged the X pattern. Bitcoin has been making continuous new lows since early February, which is a strong sign of momentum building, he said. As long as current levels hold, his short-term target is $77,000 to $80,000.
The caveat he raised is worth noting: These higher lows create liquidity zones. If the market reaches them, a forced sell-off could ensue. While not completely out of the woods, the structure is constructive.
How $BTC/GOLD ratio says
While gold is selling off, Bitcoin is on the contrary rising. Analysts are increasingly pointing out that: $BTCThe /GOLD ratio is the more informative chart at the moment.
Crypto Crib founder Gordon claimed that the rotation has already begun. Bitcoin is moving in a parabolic fashion against gold, with capital moving away from precious metals and toward cryptocurrencies. His view is that gold and silver face further declines in the coming weeks as Bitcoin recovers towards $100,000.
CryptoAmsterdam distills that sentiment even further. “The rotation from gold to Bitcoin will be Biblical.”
Cathie Wood Historical Pattern
The best target=”_blank” rel=”noreferrer noopener nofollow”> comes from Cathie Wood, whose analysis shows that since 2019, the correlation between Bitcoin and gold is only 0.14, almost no relationship at all.
But her data shows a different pattern, one in which gold tends to lead Bitcoin. In this case, the move Wood is referring to is a significant rally in gold in 2025, which she claims has set the stage for Bitcoin’s next major leg, regardless of the recent decline in gold.
When gold moves significantly, Bitcoin usually follows with a lag. She specifically addressed this dynamic in a recent commentary, noting that there was a big move in gold that preceded Bitcoin’s big rally, and drawing a circle around the current moment. Her conclusion is: “In fact, we think it will.”
Tokenized Gold Impact
The fall in gold wiped out about $1 billion in tokenized products’ market capitalization. The two leading tokenized gold products, XAUT and PAXG, account for over 70% of the $6.68 billion tokenized commodity market. Both fell as did physical gold.
Nevertheless, total real-world assets on-chain reached $26.5 billion, an increase of 5% in the past 30 days. Capital leaves the tokenized gold but remains on-chain.
Van de Poppe’s technical structure is constructive, wood’s historical pattern is established, and rotation theory is gaining momentum. The setup is there. Timing is the only open question.
