The market for the first cryptocurrency is sending a powerful bullish signal. Over the past week, Bitcoin has managed to break through key resistance levels simultaneously against the US dollar and gold, suggesting a shift in the global trend.
Analyzing the dynamics of recent days, I conclude that we are witnessing a classic reversal pattern. Notably, the Bitcoin-to-gold price ratio (BTC/gold) turned around earlier than the dollar exchange rate. This is an important indicator that often precedes major market movements.
Why the BTC/gold pair reversed first
In December 2024, the BTC/gold pair reached its all-time high, while Bitcoin's dollar exchange rate peaked only in October 2025. The lows formed in the reverse sequence: the pair against gold found its bottom in February 2026, while the dollar exchange rate bottomed out about five months later, in July.
It was this asynchrony that fueled pessimism among market participants. Bitcoin was setting dollar records but consistently lagging behind gold, which psychologically weighed on investors. However, the situation has now changed dramatically.
A sharp surge and new targets
Over the past few days, Bitcoin has risen by about 21% and briefly climbed above the $79,000 mark. I attribute this momentum to the US Treasury's decision to buy back long-term bonds, which boosted demand for risk assets. But the key point is that the coin has broken through levels against both the dollar and gold simultaneously. Over the month, the gain against USD exceeded 22%, and against gold, it was 6.6%.
It is worth noting that after such rapid growth, a correction is possible. However, in the event of a significant decline, I expect strong demand from buyers who are just waiting for the right moment to enter. The bear market appears to be over. If the BTC/gold pair is again sending an early signal, and both directions are moving up in sync, we have every reason to expect a successful 12–18 months and even larger growth prospects.
Interestingly, confidence is also reinforced by the stance of major institutional players. One of the funds, among the largest Bitcoin holders, owns 20,246 BTC. Their average purchase price is $94,345 per coin—about 22% above the current value. Despite the recent rally, the company's unrealized loss is still estimated at around $350 million.
My verdict: a synchronized breakout of levels against fiat currency and the precious metal is a rare and strong signal. Combined with institutional demand and macroeconomic factors, it points to the start of a new, possibly the most powerful growth cycle in Bitcoin's history.