Key Points
- Bitcoin has a new gold-inspired $155,000 target, as analysis describes both assets as “remarkably impressive.”
- Despite a year-to-date decline, Bitcoin is seen as a growing macro hedge, with potential tailwinds like a declining US Dollar Index and high global M2 money supply.
Summary
Bitcoin, despite a 10% year-to-date drop, is still viewed as a robust macro hedge, according to Glassnode research. Analysts have set a new target for Bitcoin at $155,000, inspired by gold's performance, which has been setting record highs. Cryptollica, a trading and analytics account, predicts that Bitcoin will follow gold's trajectory, breaking out of its current consolidation to reach new all-time highs. Despite Bitcoin's inability to match gold's gains in 2025, both assets are seen as increasingly central in global reserve assets. Glassnode highlights that while gold has surged to new highs, Bitcoin has shown resilience, recovering from an initial sell-off to trade flat at around $85,000. The firm notes that Bitcoin's drawdown from its all-time high is relatively modest compared to historical standards, indicating a growing investor confidence in Bitcoin as a safe haven during macroeconomic turbulence.