Gold vs Bitcoin: Is the Rugged Turnaround Here?

by

Look, Bitcoin pulled back from its shiny new highs this week while gold decided to go full bling. Schiff-yeah, that guy on X with opinions-says a move into precious metals could shove crypto prices down. Great, just what I needed: a metal feud in the crypto world. 🤨💭

Bitcoin briefly slipped below $122,000 after hitting an intraday peak near $126,000 earlier, and the total crypto market cap eased to about $4.13 trillion. Most large coins fell; Ethereum, XRP and Solana dropped between 5% and 6%, while BNB was among the few gainers. Yeah, numbers, am I right? 🙄

Schiff Issues Stark Warning

Schiff wrote on X that “Bitcoin and everything crypto are about to be rugged by gold,” and he forecasted gold reaching $4,000 per ounce if the trend continues. Oh sure, gold climbs and crypto sulks-sounds like a middle-school argument about sleepovers. 🪙😅

He argued Wall Street’s optimism on crypto has become hard to justify and suggested that a sharp move in bullion could pull funds away from digital assets. Translation: gold could crash the crypto party, and nobody invited the nerdy tokens. 🧨💰

Gold is trading near $2,700 per ounce at present, putting Schiff’s $4,000 target roughly 50% above current levels. If that happened, large investors would likely take notice, he said. Or so he claims, with the dramatic flair of a weather forecast. 😮

Wall Street is so bullish on crypto that it’s hard to imagine it going much higher from here. Instead, it’s very likely that Bitcoin and everything crypto are about to be rugged by gold. As gold tops $4k, it’s likely that Bitcoin will sell off, taking the rest of crypto with it.

– Peter Schiff (@PeterSchiff) October 7, 2025

Deutsche Bank Sees A Role For Both Assets

Meanwhile, Deutsche Bank publishes a note that paints a different picture. The bank said both bitcoin and gold could be held on central bank balance sheets by 2030 as policymakers respond to a weaker dollar and rising geopolitical risks. Optimistic for a Tuesday, I suppose. 🤷🏻‍♂️

According to the report, bitcoin reached about $123,500 in August and roughly $125,000 in October during a record run for the token in 2025. Deutsche Bank suggested that a strategic allocation to bitcoin might become part of a modern reserve play, alongside traditional bullion. A modern reserve play? Sure, why not-next, sushi on the moon. 🏦🪙

Sentiment Split Among Investors

Some market veterans see the recent dips as a pause, not a top. Paul Tudor Jones, for example, has voiced bullish views and expects further upside for bitcoin. Others, like Schiff, view the setup as the start of a reallocation toward safer stores of value. Traders also noted that the market was pricing in a possible three-week US government shutdown, a factor that briefly boosted volatility across risky assets. Drama, drama, drama. 😅

Market Moves Broad But Mild

Trading data showed the total crypto market off slightly after several weeks of gains. Small profit-taking appears to explain the pullback more than any single event. It’s basically the financial equivalent of stepping off a treadmill and saying, “I’m fine.” 😬

Based on reports and public comments, two clear scenarios exist: a rotation into gold that drags crypto lower, or a continued appetite for bitcoin that keeps both assets bid. And yes, we’re all just watching price action like a suspenseful sitcom. 🤷🏻‍♂️

Some institutional players prefer holding both. Others will watch inflation, rate expectations and dollar strength for clues. For now, markets are split and investors are watching price action closely. Because apparently, ambiguity is the new black. 🕵️‍♂️

Read More

2025-10-09 04:17