Bitcoin’s performance relative to gold has been in the spotlight following technical data showing oversold levels seen over the past decade. According to historical analysis shared by market analyst Crypto Rover, the Bitcoin-to-gold ratio (BTC/XAU) exhibits a cyclical pattern consistent with Bitcoin halving events, which often precede major bull markets.
We have only seen oversold Bitcoin/Gold levels like this a few times in history.
Each time, Bitcoin hit an all-time low. pic.twitter.com/RHekZCOGus
— Crypto Rover (@rovercrc) October 18, 2025
The chart, which covers the period from 2012 to 2025, shows three distinct phases during which Bitcoin outperformed gold: 2013, 2017, and 2021. These cycles were followed by correction phases as observed in 2018, 2022, and mid-2024, during which gold briefly regained strength.
Source: X
The indicator below the chart, the Z-score indicator, is currently at near-historic lows, suggesting that Bitcoin may be entering a new accumulation phase. Analysts consider these levels to be an early signal of a possible trend reversal, consistent with the historical long-term recovery cycles observed in the BTC/XAU ratio.
Bitcoin market performance reflects short-term pressures
Bitcoin (BTC) was trading at $106,855 at the time of writing, registering a daily gain of 0.36%, but remains under pressure after dropping 5.40% weekly and 8.23% monthly. Despite the short-term volatility, the cryptocurrency remains up 25.46% over the past six months and 14.51% year-to-date.
Fueled by continued institutional demand and ETF inflows in early 2025, BTC is up 58.61% in 12 months and 840.66% in five years.
Gold maintains strong upward trend as investors seek stability
Gold (XAU) reached an all-time high of $4,380 before falling 1.67% in 24 hours to $4,253.97. The metal continued to outperform most asset classes in 2025, rising 62.05% year-to-date and 57.96% annually.
Reflecting continued demand from investors amid global uncertainty, gold has gained 16.24% over the past month, with a six-month performance of 27.66%. The five-year return of 123.97% confirms gold’s status as an important hedge during times of economic instability.
Salinas Priego plans to make $1.5 million worth of Bitcoin to match the value of gold
Adding to the market debate, Mexican billionaire Ricardo Salinas Priego estimated that Bitcoin would need to rise 14 times to reach the same level as gold’s $30 trillion market cap. With BTC currently at $106,855, Salinas’ prediction sets the level target at $1,516,000 per coin, a number he believes could emerge within the next 12 months.
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