Why Bitcoin Doesn't Need Gold to Stumble Before Making New Moves

The crypto market is buzzing with a contrarian take: bitcoin can rally independently without waiting for precious metals to cool off. This perspective challenges the widespread belief that crypto and gold move in lockstep.

Macroeconomist Lyn Alden recently shared her thoughts on this dynamic in a YouTube discussion, pushing back against the narrative of competition between these assets. She clarified that while many observers frame it as a zero-sum game, she sees it differently. Alden highlighted that bitcoin’s recent underperformance relative to gold isn’t about one replacing the other—it’s about cyclical market phases. Over the past year, bitcoin lingered in consolidation while gold enjoyed what she called “its strongest period in years.”

This perspective aligns with what Glassnode’s Chief Analyst James Check emphasized: bitcoin holders who believe these assets are in direct competition “fundamentally misunderstand the nature of both.” Check characterized this contrarian stance as refreshingly different from mainstream thinking. His point: the bitcoin-to-gold ratio’s recent strength tells a story not of competition, but of bitcoin emerging from its quiet phase.

The implication is significant for traders and investors. If bitcoin and gold operate on separate timelines rather than as rivals, then bitcoin’s upside potential remains intact regardless of gold’s trajectory. This reframes how market participants should think about portfolio construction and opportunity windows in the current cycle.