17.04.2025 18:33
Bitcoin (BTC) maintains its position as a strong macro hedge despite a 9.3% decline since the beginning of the year. According to a recent analysis by Glassnode, BTC is projected to reach the $155,000 level by following gold. Crypto analysts consider the performance of Bitcoin and gold in the face of global economic fluctuations to be "remarkably impressive."
In the current environment where global macroeconomic turmoil continues, the performance of hard assets continues to attract investors' interest. Gold has reached new record levels at $3,300, while Bitcoin has stabilized around $85,000 after a brief decline. This situation indicates that Bitcoin is beginning to position itself as a global neutral reserve asset, similar to gold, rather than a traditional risk asset.
Gold and Bitcoin Stand Out in the Environment of Global Economic Uncertainty
In a post published on April 16 on the X (formerly Twitter) platform, the popular trading and analysis account Cryptollica predicted that Bitcoin would reach new all-time highs with a gold-like movement. According to the analysis, the BTC/USD pair is expected to quickly rise to six-figure numbers and then to the $155,000 level after breaking out of its consolidation wedge structure.
The blockchain analytics firm Glassnode emphasized in its latest newsletter that Bitcoin and gold have remarkably weathered the current macroeconomic storm. According to Glassnode, gold continues to rise, reaching a new ATH of $3,300 as investors flee to the traditional safe-haven asset.
Currently, Bitcoin's price performance has various potential driving forces. These include the declining U.S. dollar index (DXY) and all-time highs in global M2 money supply. These factors have historically triggered Bitcoin bull runs.
Despite the difference in price performance between Bitcoin and gold, analysts highlighted the fact that the decline Bitcoin has experienced compared to its all-time highs remains modest at around 30% by historical standards. Glassnode noted that in similar economic crises, Bitcoin has typically experienced losses of over 50%.
The resilience Bitcoin has shown under unfavorable conditions, such as the U.S.-China trade war, indicates to Glassnode that modern investor sentiment has developed a strong confidence in the asset. This situation reveals that Bitcoin is beginning to be recognized not only as a speculative asset but also as a global neutral reserve asset.