Compass Investments

Bitcoin (BTC) returned to flat on Tuesday, while gold approached the key $5,000 level.

– Bitcoin lacks the momentum to retest the $80000 level as gold and silver rise

Bitcoin (BTC) returned to flat on Tuesday, while gold approached the key $5,000 level. <

> Highlights: Bitcoin is moving in a sideways channel, while gold and silver are trying to recover their recent losses. <

> Experts still disagree on the future dynamics of the bitcoin/gold ratio. <

The head of Bitwise believes that the current crypto-collapse is nearing completion. <

According to TradingView, the BTC price is avoiding a retest of the $80000 mark, which now acts as resistance. <

> The BTC/USD pair showed its usual indecisiveness during the day, which again contrasted with precious metals, which actively sought to recoup some of the significant losses of recent days. <

> The XAU/USD price rose back to $4,971, adding over $500 from Monday’s lows. <

> Silver, which fell to $71 after the close of January’s monthly bar, was trading up over 11% overnight at the time of publication. <

> U.S. stocks remained sensitive to the published financial results. For example, a bad report of PayPal provoked a fall in the quotations of this security by almost 20% . <

> In the light of what is happening, BTC price forecasts were focused on the continuation of the historical correlation with the uptrends of gold. <

> Trader Jell noted in a recent post: $BTC and $GOLD have historically alternated in terms of leadership, with gold dominating for the last roughly 14 months. This is usually when digital gold takes the lead.

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> Other analysts are much less optimistic. For example, trader and analyst Northstar predicts that bitcoin could eventually lose 80 percent of its value in terms of gold. <

> It is worth noting that this is the first cycle in which bitcoin has failed to renew its absolute highs against gold.

Crypto spring is coming faster than it seems. <

> On Tuesday, Matt Hogan, chief investment officer of crypto fund manager Bitwise, also outlined the timeline for the current crypto winter in his postings on X.