Bitcoin's price is losing momentum against gold, with the precious metal significantly outperforming the flagship cryptocurrency in recent days. According to a report by Matrixport's Markus Thielen, this divergence is likely to continue due to fundamentally different market drivers.
Gold, traditionally viewed as a safe-haven asset, is closely tied to U.S. fiscal policies, including debt issuance and government spending patterns, leading to a 58% yearly gain and trading near $4,160. In contrast, Bitcoin's price, currently around $87,390 and down over 6% yearly, depends heavily on liquidity inflows, which have been stagnant despite an 84% market expectation of a Federal Reserve rate cut in December.
Analysts provide specific price targets: Ali Martinez notes that gold could rally 10% if it breaks $4,180 resistance or drop 10% if it loses $4,041 support. For Bitcoin, Michael van de Poppe suggests a potential decline to $80,800 if it falls below $85,500 support, or a rise to $90,000-$92,000 if it holds $86,000.
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