Bitcoin’s worth downtrend will not be as short-lived as many holders anticipate, says crypto analyst Benjamin Cowen.
“Bitcoin’s seemingly going to maintain bleeding in opposition to the inventory market,” Cowen said in a video on Thursday, including that sturdy expectations of a “large rotation” from metals like gold and silver into crypto could also be misplaced.
The costs of gold and silver have lately surged to all-time highs of $5,608.33 and $121.64, respectively, according to Buying and selling Economics.
Citi predicts silver received’t decelerate
Citi predicted on Tuesday that silver might climb to $150 inside the subsequent three months, pushed by Chinese language demand and the US greenback hitting four-year lows.
Nevertheless, Cowen emphasised that the rotation to Bitcoin is “most likely not going to occur” within the quick time period.
Many within the crypto market are betting that gold and silver hitting new all-time highs is a sign that historical past will repeat and Bitcoin will finally comply with.
Bitcoin is buying and selling at $82,859 on the time of publication, down 7.78% over the previous seven days, according to CoinMarketCap.
It comes as sentiment throughout the broader crypto market has been waning. The Crypto Worry & Greed Index, which measures total crypto market sentiment, posted an “excessive concern” rating of 16, indicating that traders are considerably cautious concerning the crypto market.
Different analysts are extra optimistic
Swyftx lead analyst Pav Hundal advised Cointelegraph that the market could also be close to a turning level, saying, “We’re proper on the cusp of the place we would historically count on to see re-risking again into Bitcoin.”
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“Bitcoin bottoms have traditionally lagged gold’s relative power by about 14 months,” Hundal defined, including that he anticipates the rotation will occur in February or March.
“If historical past repeats, and it’s a massive if, the gold-Bitcoin dynamic factors to a possible BTC backside forming over the subsequent 40 days,” Hundal mentioned.
Hundal emphasised that gold usually leads in periods of macro stress, after which Bitcoin follows as soon as threat urge for food returns.
“If that mannequin isn’t damaged, the tape ought to begin to look much less fragile by the top of the quarter,” he mentioned.
In the meantime, Bitwise Europe head of analysis, Andre Dragosch, said in an X submit on Jan. 19 that Bitcoin “is buying and selling at a steep low cost to Gold on a relative foundation.”
“These uneven setups are very uncommon,” he mentioned, including that “if flows flip, Q1 2026 could possibly be the inflection level.”
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