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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
12/28/2025

Bitcoin Doesn't Need Gold or Silver to Cool Off Before It Can Rally, Experts Say

Many analysts argue that Bitcoin doesn't need to wait for gold and silver to pull back before resuming its uptrend, even as both precious metals maintain strong momentum and continue setting all-time highs. James Check — senior analyst at Glassnode — contends that Bitcoin operates on its own distinct economic and market forces, and is not fully dependent on or in direct competition with gold and silver as many people assume. Macro economist Lyn Alden shares a similar view, arguing that

Bitcoin Doesn't Need Gold or Silver to Cool Off Before It Can Rally, Experts Say

Many analysts argue that Bitcoin doesn't need to wait for gold and silver to pull back before resuming its uptrend, even as both precious metals maintain strong momentum and continue setting all-time highs.

James Check — senior analyst at Glassnode — contends that Bitcoin operates on its own distinct economic and market forces, and is not fully dependent on or in direct competition with gold and silver as many people assume. Macro economist Lyn Alden shares a similar view, arguing that Bitcoin and gold both have "long-term structural growth stories" rather than being in opposition to each other.

According to Alden, the recent sharp rise in the Bitcoin-to-gold ratio is largely because Bitcoin went through an extended consolidation phase while gold had an exceptional year of outperformance. In fact, gold and silver have both recently made new highs, driven by expectations that the Federal Reserve will continue easing policy through 2026, a weakening U.S. dollar, and escalating geopolitical tensions.

Meanwhile, Bitcoin is currently trading nearly 30% below the all-time high it reached in early October, with crypto market sentiment turning notably bearish — the crypto Fear & Greed Index has fallen deep into "Extreme Fear" territory. By contrast, the gold market is registering "Greed," highlighting a stark divergence between the two investor camps.

Even so, many industry experts believe Bitcoin's downturn will prove temporary. Matt Hougan — Chief Investment Officer at Bitwise — expressed confidence that next year will be a strong one for Bitcoin. Samson Mow — founder of Jan3 — went even further, suggesting Bitcoin may be on the verge of entering a bull cycle that could last an entire decade.

In summary, gold and Bitcoin are not direct competitors but two assets with their own distinct value narratives amid a turbulent global economy. Gold's strong run does not rule out the possibility that Bitcoin will soon rediscover its momentum and kick off a new growth cycle.