Key Takeaways
- BTC suffers from market uncertainties as its price detaches from global liquidity indicators.
- Crypto experts and traders hint at a possible market crash if BTC fails to defend its key demand zone at $80k.
- Gold continues to gain market hype and bullish sentiment ahead of the new year, even as Bitcoin struggles persist.
| Bitcoin Market Sentiment | Fear |
| Bitcoin Fear & Greed Index | 29 |
| 7-days Price Action | 0.4% |
| Gold Price Action | Bullish |
| BTC Price Action | Consolidation |
The price of Bitcoin has created significant uncertainty in the crypto market over the last few weeks, as the crypto asset has struggled to meet the expectations of many crypto investors, whales, and experts who had the conviction of a potential $150k BTC at the end of the year.
While uncertainties remain with BTC, Gold, on the other hand, continues to set new all-time highs to the upside, ending the year strong above $4,420, as price could trade higher in the coming days, demonstrating a stark difference between the traditional asset and BTC over the last few months.
Although Bitcoin’s price has at times rallied on the back of Gold, the two are in different worlds, leaving crypto experts and technical analysts worried, as Bitcoin has not shown any signs of a bullish recovery.
What could be the price of action of BTC ahead of the close for the year?
Gold Outperforms BTC in Q4
https://x.com/CarlBMenger/status/1980164028447199689?s=20
Gold has outperformed Bitcoin over the last three months, dominating price and hype, pushing its price towards a new all-time high, while BTC has struggled to create an impact or buzz to the upside, as its price has struggled in large part of Q4.
Despite the hype of Bitcoin trading higher in October, the market has remained in a range, following the price crash from a region above $110k to a low of $80k as market sentiment went from bullish to extremely bearish in a short time.
The market continues to struggle with liquidity, given the magnitude of the BTC price crash, as the price must trade above $95k to resume a bullish rally.
Bitcoin Analysis from Analysts
The price of Bitcoin has completely detached from the global liquidity indicator, suggesting the market is currently trading with higher uncertainty than in previous months, when BTC traded closely with the indicator.
Based on the current market price action, DrCryptoProfit has predicted that the price of BTC could still trade lower, potentially towards its key support of $77k, in the coming weeks. The price trades just above $90k; it must trade above $97k to resume its bullish price action.
Overall, Gold’s market price action remains bullish, while Bitcoin has struggled over the last few weeks.
FAQs
How high can Gold Go
The price of Gold looks bullish over the last few weeks, with the potential to rally towards a new all-time high of $4,500 before the year ends.
Is gold expected to go up or down?
Gold is expected to continue its rally heading into the new year, with the price aiming to hit $5,000.
Will Bitcoin go back up?
The price of Bitcoin crashing to its yearly low of $80k has raised concerns among crypto traders who are not convinced of the price action as price continues to trade in a range.
Why did Bitcoin crash now?
The crypto market crashed due to market uncertainties and a shift in sentiment from bullish to bearish, as BTC trades with extreme caution.
Is BTC expected to rise or fall?
The price of Bitcoin is attempting to rebound from its key support zone of $80k for weeks, as it aims for a short-term price gain towards $107k.
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