- Bitcoin seems to be repeating gold’s bullish run so far.
- Analyst expects BTC to follow gold’s bullish playbook.
- If it does, then the price of BTC could hit another new ATH.
The crypto market raised high hopes for the new and final week of the month of October. Yesterday, both BTC and ETH experienced a short price surge, which took BTC to $116,000 and ETH to $4,200. Despite the price drop again, one analyst notices that Bitcoin seems to be repeating Gold’s bullish run so far. Will this playbook pump lead to one final new BTC ATH before altseason kicks off?
Bitcoin Seems to be Repeating Gold’s Bullish Run
Presently, the price of Bitcoin (BTC), the pioneer crypto asset, is trading in the $113,900 price range. This signals a decline of 1.14% over the past 24 hours, meaning that the price of BTC is still up over 1.5% based on where it was trading before yesterday’s sudden pump to $116,000. This matches the fact that the price of ETH is still holding its bullish $4,000 price level, despite the current dip.
At the moment, sentiment for BTC is in a tug-of-war between bearish and bullish expectations. For instance, bearish analysts expect the price of BTC to fall below the $100,000 price range and trigger a bear market, which will lead to BTC bottoming at the $60,000 price range. This bearish outlook also means that there will likely be no altseason peak phase this cycle.
In contrast, bullish analysts state that Bitcoin and altcoins are still holding bullish price levels, suggesting at least one final price pump for Bitcoin (BTC), before the altseason peak phase can kick off. One of the biggest reasons behind this expectation is that Bitcoin is printing the same bullish price chart as that of the price of gold. The low-risk investment asset went on to hit unprecedented highs recently.
As we can see from the post above, this analyst believes that Bitcoin is quietly repeating gold’s playbook. As the charts show, the similarity is hard to miss, considering gold broke out of a multi-year ascending wedge in 2024 and went on to double within 18 months. Bitcoin now sits inside the same structure, nearing the same point of breakout. The analysts then stress what’s more interesting.
Will This Playbook Pump Lead to a New BTC ATH?
At the moment, gold’s rally has already cooled and is down nearly 9% from its peak, and historically, this is when profit rotation begins. Capital leaves the slow hedge and moves into the high-beta one, the same shift that marked the start of every major Bitcoin leg. With the Fed is preparing another 25 bps cut and QT ending, liquidity is quietly turning back on. This is exactly what fueled past major rallies in Bitcoin, and the difference is structural.
Gold’s move was defensive, driven by fear of debasement and central bank buying. Bitcoin’s move will be offensive driven by liquidity, adoption, and institutional demand. It’s not about preserving value anymore; it’s about front-running it. This rotation happens every cycle. Gold moves first as money hides from policy risk. Then, once liquidity returns, that same money looks for higher velocity and finds Bitcoin. It happened in 2020, and will likely play out now.
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