Gold rose above $4,320 and silver hit $66 as investors moved money into safe-haven assets.
While Bitcoin has struggled below $90,000 and is down nearly 7%, the precious metal has significantly outperformed the crypto market.
Analyst Michael van de Poppe said Bitcoin could rebound later if gold peaks and liquidity returns.
Precious metals are in the spotlight as investors scramble for safety. Silver hit a new all-time high, and gold rose 16% in one day to trade near October’s all-time high of $4,381.
Bitcoin, on the other hand, has been a laggard, struggling to break above $90,000 as money moves away from cryptocurrencies.
Gold and silver hit record highs as Bitcoin falls
Gold prices have soared to an all-time high, exceeding $4,320 per ounce, up more than 60% since the beginning of the year, according to global market data. Meanwhile, silver gained further momentum, rising to $66 for the first time.
He notes that Bitcoin’s RSI relative to gold has fallen below 30, a level that has only been seen three times in the past: in 2015, 2018, and 2022. In both cases, Bitcoin later formed a major bottom against gold.
Van de Poppe said this does not guarantee a reversal, but it does suggest that gold may be overvalued compared to Bitcoin. In past cycles, extreme conditions like this often caused funds to flow back into Bitcoin.
Key price levels to watch
From a technical point of view:
- Bitcoin support: $84,000-$85,000
- Bitcoin resistance: $90,000-$92,000
A breakout above the resistance level could create new upward momentum.
Van de Poppe believes January could be a macro peak for gold, especially if liquidity tightens or a major economic event hits the market.
However, Bitcoin, which hit an all-time high of over $126,000 in October 2025, is currently underperforming. Although prices may lag, changes in liquidity patterns suggest Bitcoin could regain momentum once precious metal prices cool.
