Gold’s Surge Rekindles Debate Over Bitcoin’s Next Move, Says Analyst

Ash Crypto notes repeated cycles where liquidity changes from peak Gold phases into Bitcoin during risk-on rotations.

Doctor Profit warns Bitcoin may drop toward 90–94k despite past Gold correlations pointing to upside potential.

Macro stress signals like soaring bond yields and high repo ratios indicate tightening liquidity across markets.

Bitcoin is once again being compared to Gold as both assets trade near historic peaks, yet analysts remain divided on direction. Ash Crypto pointed to previous cycles where capital rotated from Gold into Bitcoin after Gold established new highs

He noted that Gold sat near $1,040 to $1,380 in 2015 while Bitcoin traded below $1,000. However, once Gold consolidated, Bitcoin surged beyond $2,600. The same pattern appeared in 2019 when Gold advanced toward $2,300 before Bitcoin accelerated past $60,000 in 2021.

Capital Rotation Between Gold and Bitcoin

A similar setup has emerged in 2025, with Gold at $3,758 while Bitcoin retraces from a recent peak at $124,420 to roughly $109,619. Ash Crypto noted that Bitcoin often absorbs liquidity once Gold reaches exhaustion, acting as a higher beta alternative during periods of increased risk appetite

Source: Ash Crypto on X

He referenced multiple periods where liquidity shifted toward Bitcoin following Gold’s stabilization, emphasizing a recurring correlation between the two assets. Notably, he argued that current positioning may again favor Bitcoin should the rotation repeat.

However, Doctor Profit presented a different perspective, projecting further downside before any recovery. He stated that Bitcoin is on course for his expected range between $90,000 and $94,000. According to him, Bitcoin already dropped 10 percent since his previous sell call, moving toward a near term target of $106,000.

Bullish Comparisons

He added that temporary bounces near $106,000 may lead to further liquidations rather than confirm a reversal. He criticized what he described as retail enthusiasm driven by minor price rebounds, suggesting that broader market sentiment remains fragile

He referenced external booster narratives from political figures such as Donald Trump and Eric Trump, who publicly encouraged buying during recent dips. Still, he warned that macroeconomic indicators show tightening conditions. He cited Japan’s 10 year bond yield reaching its highest level since the Global Financial Crisis

Additionally, he pointed to rising repo-to-reserves ratios near 99 percent, often associated with funding stress. Insider selling, elevated retail inflows, and resistance across long-established equity benchmarks were also mentioned as constraints.

Short Term Outlook

Both analyses intersect on one point: volatility may expand as Gold and Bitcoin test key areas. Ash Crypto sees historical rotation from Gold as a potential launchpad for Bitcoin, while Doctor Profit views current behavior as the beginning of a deeper correction

He reiterated his September projection of Bitcoin trading below $100,000, noting that direction is intact despite timing uncertainty. As a result, Bitcoin’s position between cyclic enthusiasm and macro caution continues to get scrutiny.

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