Bitcoin vs. gold: Will 2025 mark the start of a ‘supercycle’?

Key takeaways

Why are Bitcoin and gold rising together?

Both assets are benefiting from growing distrust in the U.S. dollar and demand for hard assets.

Could Bitcoin replace gold as the top haven?

Analysts say yes, historical trends show that capital often rotates from gold into Bitcoin when gold peaks.

Gold’s [XAU/USD] is breaking records again, but this time, it’s not the only asset catching investors’ eyes!

As faith in the U.S. Dollar (USD) fades, many are shifting their attention to Bitcoin [BTC], seeing it as the next big hedge against inflation.

Some analysts even say this could be the start of a new “supercycle,” where digital assets take over gold’s long-held safe haven status.

BTC and gold break out in tandem

BTC has broken out of its multi-week consolidation phase, gaining nearly 25% in recent weeks. The move comes as gold also posts a sharp climb, up 52% YTD; a broader flight to hard assets.

Source: TradingView

The correlation between Bitcoin and gold is strengthening again, suggesting that investors may be preparing for macroeconomic uncertainty. 

Bitcoin’s strong move above the $120K level mirrors gold’s steady rally, with both assets now showing signs of entering fresh bullish phases after a prolonged period of sideways movement.

When gold peaks, BTC rises

This pattern isn’t new.

Every time gold reaches a local top, capital tends to rotate into Bitcoin. It happened in 2017, again in 2020, and now, charts show the same setup for 2025.

Gold’s current surge above $2,500 is its previous pre-rotation spikes, while Bitcoin’s price structure aligns with the start of prior bull cycles.

Source: X

The timing and flow of capital between these two assets appear too clean to ignore, so Bitcoin may once again absorb liquidity as investors shift to digital safe-haven assets.

Between haven and overheated trade

While some, like RAAC founder Kevin Rusher, see tokenization bringing gold into a new era, others are sounding the alarm. Rusher argues that,

“Gold’s relentless rally this year is no longer just a general flight to safety. It’s also a clear sign that investors are losing faith in the US dollar.”

He believes tokenization could “allow individuals to lend, borrow, and build long-term wealth without the need for a fiat currency.”

But Nic Puckrin, co-founder of The Coin Bureau, cautions that,

“Gold’s surge is now as much a momentum trade as anything else, and momentum trades have a tendency to fizzle out.”

Despite Goldman Sachs expecting prices to reach $4,900 by next December, Puckrin adds that “attention may now turn to other alternatives that express a similar view,” such as Bitcoin, tokenized assets, and other commodities.