The market for the first cryptocurrency is sending clear reversal signals. Over the past week, Bitcoin not only recovered but broke through key resistance levels in two dimensions at once—against the US dollar and gold. This event can be considered significant: it points to the end of a prolonged correction phase.
Analyzing the dynamics of the BTC/gold pair, I noticed an important pattern: the ratio of Bitcoin's price to gold turned around earlier than the exchange rate against the dollar. In December 2024, the BTC/gold pair reached its all-time high, while the dollar exchange rate only peaked in October 2025. The lows formed in the reverse order: the bottom against gold came in February 2026, and against the dollar—about five months later, in July.
It is this sequence that explains the pessimism of many investors. Bitcoin updated dollar records, but consistently lagged behind gold. Any, even minor, decline in the exchange rate was perceived painfully, since in the previous growth cycle the coin also trailed the precious metal. However, the situation has now changed dramatically.
From last Wednesday to Friday, Bitcoin rose by about 21%, briefly climbing above the $79,000 mark. I associate this momentum with the US Treasury's decision to buy back long-term bonds, which boosted demand for risk assets. But that's not the main point. The key factor is that Bitcoin broke through levels against both the dollar and gold simultaneously, and did so sharply. Over the month, the coin gained more than 22% against the USD and 6.6% against gold.
Undoubtedly, after such rapid growth, a correction is possible. However, in my assessment, with a significant decline, we will see strong demand from buyers who were just waiting for a convenient entry point. The bear market, judging by all technical indicators, is over. If the BTC/gold pair is again sending an early signal, and now both directions are moving up simultaneously, then the 12–18 month planning horizon looks more than optimistic.
Additional confirmation comes from the position of one of the largest corporate structures, which holds 20,246 BTC—the seventh-largest public reserve. The average purchase price is $94,345 per coin, which is about 22% above the current value. Despite the recent rise, the company's unrealized loss is still estimated at around $350 million. This further underscores that even major players believe in the asset's long-term potential and are willing to weather temporary difficulties.
My conclusion: the simultaneous breakout of levels against fiat currency and gold is a rare and powerful bullish signal. It indicates restored confidence in Bitcoin as a safe-haven asset and store of value. I recommend closely monitoring the dynamics of the BTC/gold pair: if it continues its confident growth, we are in for one of the strongest cycles in cryptocurrency history.