Bitcoin Breaches 12-Year Support Line Against Gold – Is The Bull Run Over?
As Bitcoin (BTC) struggles amid the latest crypto market pullback – failing to decisively break past the $84,000 resistance – gold (XAU) continues its impressive rally, soaring to a record high of $3,000 per ounce on March 14. Bitcoin Gets Outshined By Gold 2025 has started on a shaky note for the world’s largest cryptocurrency. BTC is down over 10% year-to-date (YTD), falling from approximately $94,000 on January 1 to around $84,000 at the time of writing. On the flip side, gold has surged nearly 13% in the same period. Related Reading: Bitcoin Needs Weekly Close Above This....
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Today, Bitcoin price sank below $40,000 for the first time since September – a price more than 50% lower than what the market was anticipating this time of year. While the downside has been impossible to ignore, the latest sweep of lows has resulted in a touch of a trend line dating back to the bear market bottom that could keep the bull market intact a bit longer. Technical Analysis And Framing The Importance Of Trend Lines When it comes to technical analysis in Bitcoin, trend lines always matter. When such lines hold, it is a sign to the market that it is time to reverse. When they give....
Bitcoin maximalists have always been known to refer to Bitcoin as digital gold. There are speculations that Bitcoin will overtake gold in the coming years as a preferred store of value. This seems to be the case with each bull market as Bitcoin outperformed gold by 10 times in 2020. Gold has always been a […]
Bitcoin price is now above $40,000, up more than 20% from the lows set in late January. Despite the recovery, common sentiment across the crypto community, analysts, and more is that the bottom is nowhere near in. Meanwhile, BTCUSD has began its recent bounce from a seven year secular bull trend line. Could that fact combined how few are expecting a bottom be the best case for why one might already be in? Contrarian Take: Crypto Market Sentiment Would Be Blind To A Bottom In a flash, Bitcoin has risen back above $40,000 – still a far cry below the $100,000 end of year 2021 targets the....
The digital gold narrative was partly responsible for institutional interest in Bitcoin, and putting the precious metal’s bull run on pause. Only recently was that narrative tarnished and cryptocurrencies fell by 50% in a flash. The crash in crypto sent Bitcoin back to retest its former all-time high against gold as resistance turned support, and […]
Renowned gold bull and CEO of investment management firm Doubleline, Jeffrey Gundlach says bitcoin may be the “stimulus asset” while adding it “doesn’t look like gold is.” Gundlach, a self-professed long-term dollar bear, had preceded his comments about bitcoin by remarking that “lots of liquid poured into a funnel creates a torrent.” BTC Outperforming Gold In the same tweet, Gundlach suggests that he came to the conclusion after staying “neutral (on both gold and the dollar) for the past six months.” In the past six months, the two....