Renowned commodities expert Peter Brandt has revealed he is considering reallocating a portion of his Bitcoin holdings into gold. Brandt argues that gold is showing clear signs of gaining strength against Bitcoin, signaling a potential shift in the long-standing balance between the two assets.
Technical analysis signals a turn for gold
Brandt’s recently shared chart displays the historical dominance of Bitcoin over gold. However, the pronounced uptrend in Bitcoin’s favor has leveled off in recent years, and the chart now shows the first hints of a rebound benefiting gold. According to his analysis, the price ratio between the two assets has formed a rounded bottom and has started curling upward within an ascending channel—an indicator traditionally interpreted as a momentum shift.
Peter Brandt states that gold could decisively outperform Bitcoin in the coming period, and he is seriously considering rebalancing his portfolio as a result.
This emerging technical picture has drawn added attention, especially with Brandt emphasizing gold’s potential to gain ground on Bitcoin during 2025. He maintains his outlook that gold’s momentum could persist. Brandt is widely respected for his decades of market experience and his focus on technical analysis, lending weight to his latest observations.
Forecasting a fall before the next rally?
At the start of summer, Brandt cautioned investors that further declines in Bitcoin’s price could not be ruled out. He explicitly anticipated that a tradeable bottom for Bitcoin was unlikely to emerge before October, suggesting investors should remain patient.
Brandt bases his timing projections on some of the most distinctive cyclical patterns he’s seen in the last 15 years, indicating September or October as the most probable window for an investable bottom.
His cycle-based roadmap hints that, following historical patterns, a more meaningful floor for Bitcoin may form later this year in September or October. Despite these warnings, Brandt had previously outlined remarkably optimistic long-term targets, forecasting a major macro top for Bitcoin between $300,000 and $500,000 by September or October 2029—provided investors remain resilient amid the current volatility.
Fresh warnings from Bloomberg’s McGlone
Mike McGlone, a strategist at Bloomberg Intelligence, has added his own layer of caution, suggesting that Bitcoin may be operating as a lead indicator for a broader post-inflation deflationary cycle. McGlone points out that gold is also sending historic warning signals, especially in tandem with wider stock markets.
McGlone’s analysis notes that the 60-day correlation between gold and the S&P 500 has soared to its highest level since 1975, according to the firm’s database. He argues that the crypto market’s current decline could be a harbinger of larger risks brewing across traditional financial markets.
In this context, even a modest pullback in stock markets during the second half of the year could trigger outsized ripple effects—underlining the importance of keeping a close eye on both the Bitcoin-to-gold ratio and critical correlations across classic asset classes.
