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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 rallying, experts say

Many analysts argue that Bitcoin doesn't need to wait for gold and silver to pull back in order to continue its upward trend, even as both precious metals maintain strong momentum and keep setting all-time highs. James Check — senior analyst at Glassnode — says Bitcoin operates on its own economic and market drivers, and isn't fully dependent on or in direct competition with gold and silver as many people assume. Macro economist Lyn Alden agrees, arguing that

Bitcoin doesn't need gold or silver to cool off before rallying, experts say

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

James Check — senior analyst at Glassnode — says Bitcoin operates on its own economic and market drivers, and isn't fully dependent on or in direct competition with gold and silver as many people assume. Macro economist Lyn Alden agrees, 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 rise in the Bitcoin-to-gold ratio is because Bitcoin has been trading sideways for an extended period while gold had an exceptional year. Indeed, gold and silver recently hit new highs simultaneously, driven by expectations that the Federal Reserve will continue easing policy into 2026, a weakening USD, and escalating geopolitical tensions.

Meanwhile, Bitcoin is currently trading nearly 30% below the all-time high it reached in early October, and market sentiment has turned notably negative — crypto's "Fear & Greed" index has fallen into "Extreme Fear" territory. By contrast, the gold market is showing "Greed," highlighting a stark divergence between the two investor bases.

Even so, many industry experts believe Bitcoin's downtrend will prove temporary. Matt Hougan — Chief Investment Officer at Bitwise — expressed optimism that next year will be a positive one for Bitcoin. Samson Mow — founder of Jan3 — went even further, suggesting Bitcoin may be gearing up for a bull cycle that lasts an entire decade.

In summary, gold and Bitcoin are not direct competitors — they are two assets with distinct value narratives in an increasingly volatile global economy. The strong run in gold doesn't rule out the possibility that Bitcoin will soon rediscover its momentum and launch a new growth cycle.