Gold prices are just a breath away from the historic $4,000 mark as investors flock to safe-haven assets — a move that could also signal bullish momentum for Bitcoin.
Futures for gold briefly touched $4,000 per ounce early Tuesday, while spot prices reached a record high of $3,976, according to TradingView data.
“Gold is at a new record high,” noted veteran gold advocate and Bitcoin skeptic Peter Schiff. “This is a clear warning that the Fed’s current policy is wrong,” he said, urging the U.S. central bank to “reverse course immediately” and hike interest rates.
Gold has enjoyed a spectacular run in 2025, soaring more than 50% since January amid heightened geopolitical tensions, trade disputes, persistent inflation, and growing fears over fiat currency debasement.
Despite Bitcoin’s 33.5% rise over the same period, gold has been the stronger performer so far. Still, Bitcoin has often mirrored gold’s trajectory with a lag — a pattern that could hint at a powerful year-end rally for the crypto market.
Analysts see Bitcoin taking the lead next
“Gold’s all-time high reflects investors’ hunger for scarce assets. From here, we expect Bitcoin to outperform,” said Henrik Andersson, CIO of Apollo Capital, in a statement to Cointelegraph.
“Gold hitting $4K is another confirmation of the same macro forces driving Bitcoin,” added Justin d’Anethan, head of partnerships at Arctic Digital. He described the phenomenon as “mutual confirmation,” with both assets responding to similar concerns: unchecked U.S. fiscal deficits, a weakening dollar, and growing geopolitical risk hedging.
“Gold is familiar and deeply rooted in traditional finance setups. Bitcoin moves bigger because it’s available 24/7, scarcer, and admittedly more forward-looking.”
Bitcoin’s correlation with gold
Bitcoin appears to be trailing both gold and the global M2 money supply — and could soon catch up, according to analyst James Bull, who wrote on X that the cryptocurrency “should adjust” to close the gap.
Analyst and trader Ted Pillows also highlighted last week that Bitcoin has historically moved in close correlation with gold, typically with an eight-week lag. With gold now breaking new records, Pillows expects Bitcoin to follow suit, noting, “We might see a brief correction, but overall, Q4 looks very strong for Bitcoin.”
As Cointelegraph reported last week, Bitcoin has reestablished its correlation with gold as both assets flirt with record highs. Bitcoin itself hit an all-time high of just over $126,000 during late trading on Monday.
Bitcoin to Seven Figures
Litespark co-founder and CEO — and former PayPal president — David Marcus drew a striking comparison between Bitcoin and gold on Monday, noting that if Bitcoin were valued on par with gold, its price would soar to around $1.3 million per coin.
“It’s already a better store of value, and its payments utility isn’t priced in yet. Crossing into seven digits is only a matter of time.”
