Bitcoin [BTC] has lagged behind metals or perceived traditional safe-haven assets like gold and silver. The recent explosive silver rally to a new all-time high (ATH) of $83 was marked by an extended price range for BTC below $90K.
Analysts had previously stated that the metals surge was capping BTC’s rebound, and a correction could offer relief for the cryptocurrency.
The White House whale, also known as Garret Bullish, has been the most bullish analyst on crypto, citing potential correction on silver and gold.
Now that metals have given back their recent gains, Garret projected that silver and gold had topped out, and capital was moving to crypto.
“At today’s market open, capital has already started rotating into crypto. Even with equities selling off after the open, crypto kept pushing higher.”
He added that a Bitcoin short-squeeze could drive crypto prices without a pullback.
For the unfamiliar, Garret Bullish is the White House whale who made a $160 million profit by shorting BTC before Donald Trump’s China tariff in October.
Some claimed he was an insider who traded on policy moves before they were made public.
In fact, in his latest projection, he was putting the money on the line too. Arkham data showed that he controls $10 billion and is up $70 million on the long positions opened across BTC, Ethereum [ETH], and Solana [SOL].
His largest position was ETH with a whopping $634 million and was almost at break-even at the current ETH level of $3K.
In fact, in a similar silver and gold correction in October, BTC rallied 7%. Given Garrett’s access to information on the policy front, his analyses are always hard to ignore.
That said, correlation doesn’t necessarily mean causation. Yes, it was true that there was a slight uptick in BTC ETF inflows ($458 million demand in the week of Dec. 28-Jan. 2).
Over the same period, gold ETF inflows continued to ease further. So, there was indeed a slight capital rotation from gold to BTC, as Garrett stated.
However, both assets have experienced a consistent decline in inflows since November.
Additionally, a week was a limited period to conclusively determine whether the trend would persist and lift BTC and the rest of the crypto market. At press time, BTC traded at $89.9K, up 2% in 2026.
Perhaps the potential MSCI delisting of BTC treasuries and the Fed rate decision, scheduled for 15th and 28th of January, respectively, will trigger the next direction of BTC.
