Bitcoin’s New Low Points: A Fresh Perspective on Market Cycles

Michaël van de Poppe, a respected figure in the cryptocurrency domain, has brought attention to Bitcoin’s valuation against gold as a critical indicator of larger market trends. While both Bitcoin and gold are seen as “hard assets,” van de Poppe advocates that observing Bitcoin’s worth in relation to gold, instead of just the US dollar, imparts a more nuanced understanding of its real momentum in the financial ecosystem.

Is Bitcoin Hitting Unprecedented Lows Against Gold?

According to van de Poppe, Bitcoin has reached an all-time low against gold. Contrarily, some investors believe Bitcoin’s slide came after reaching its peak against the dollar in October 2025. However, van de Poppe asserts that Bitcoin’s zenith against gold occurred in December 2024, marking an ongoing downturn since then. Should this interpretation be accurate, Bitcoin has been in a bear market against gold for approximately 14 months.

Do Historical Patterns Provide Insights?

Van de Poppe stresses that past Bitcoin bear markets, measured against gold, generally last around 14 months. Historical downturns, specifically from November 2013 to January 2015, December 2017 to February 2019, and April 2021 to June 2022, confirm this trend. These periods concluded with deep troughs in the Bitcoin-to-gold ratio’s weekly RSI, which were predictive of future bullish trends.

The latest data shows the weekly RSI hitting record low levels, reminiscent of past cycle bottoms and suggesting a potential turnaround.

Does the Dollar Paint the Full Picture?

Van de Poppe offers a reevaluation of Bitcoin’s dollar high from October 2025, suggesting that the rise was not solely due to Bitcoin’s intrinsic strength. Other factors, such as concurrent surges in gold and silver, likely played a significant role.

Reviewing chart patterns, he sees Bitcoin nearing historical low points against gold, which previously heralded long-term uptrends. He believes expecting further declines would oppose historic cycles.

Historically, when Bitcoin was at its lowest in gold terms, strategic buying opportunities often emerged. Van de Poppe suggests the current situation might align similarly.

His analysis offers valuable insights for those gauging the potential directions of Bitcoin in relation to other established markets. The current dynamics point to a strategically important phase for Bitcoin traders and enthusiasts alike.

“There’s a significant opportunity in evaluating Bitcoin beyond its dollar value, especially as we assess its position against gold,” van de Poppe asserts.