Bitcoin (BTC) hit a new all-time high of over $123,700 during early Asian trading hours today, sparking a wave of bullish momentum across the cryptocurrency sector.
Furthermore, many experts suggest that further benefits may be imminent for BTC. They predict that the biggest cryptocurrencies could continue to rise, citing a positive correlation with gold.
What’s next for Bitcoin? Gold-BTC correlation suggests more benefits
In a recent post about X (formerly Twitter), Capriole Investments founder Charles Edwards pointed to the growing gap between gold and Bitcoin. His analysis suggested that the latter usually tends to close the gap over time.
Edwards observed that the current gap is similar to the gap observed in 2020. At the time, this was successful when Bitcoin entered the powerful Bull Run.
Furthermore, by 2021, Bitcoin was better than gold. So, as history repeats, flagship coins continue to move upwards beyond the current record peak, reaching new highs.
Similarly, Crypto Investor Jelle strengthened this story. He emphasized that gold will normally lead while Bitcoin continues. Jere collaborated with this historic precedent, predicting that the dynamic could drive Bitcoin to $150,000.
Why Bitcoin continues to grow rapidly
It is worth noting that expectations for a rise in Bitcoin and gold prices are not too far away, especially given the current market conditions. Charlie Billelo, chief market strategist at Creative Planning, previously revealed that Gold and Bitcoin for 2025 are top-performing assets.
“Gold (+29%) and Bitcoin (+25%) are the top-performing major assets so far in 2025,” Billero said.
He emphasized that Gold and Bitcoin were a prominent outliers in 2025 as they historically did not occupy the top two spots in any calendar year. Furthermore, in X’s detailed thread, Kobeissi’s letter explained that BTC and money are benefiting from many factors.
Market commentators said US tariff revenues surged by more than 300% in July 2025, reaching a record $29.6 billion. Kobeissi’s letter forecasts revenues of more than $350 billion a year during President Trump’s term.
Nevertheless, the US deficit rose by $47 billion (19%) in July, marking a record $600 billion in government spending. On the other hand, tariff revenues cover only about 10% of the deficit.
“Despite record tariff revenue, the US has almost doubled what it received in July. If it can reduce spending, President Trump’s tariffs could help eliminate the deficit significantly. The gap is too big to meet right now,” the post read.
This economic background has sparked interest in gold and Bitcoin as investors seek safe inventory assets amid growing amidst financial instability and increasing inflationary pressures.
“As we’ve said for over 12 months, this is the best basic background possible for both gold and bitcoin,” Kobaisi’s letter added.
Furthermore, the latest data from the CME FedWatch tool shows that the probability of Fed reductions in September has skyrocketed to 95.8%.
Beincrypto previously reported that if the Fed cuts interest rates, it could be very bullish for cryptocurrencies. Therefore, Gold BTC correlations and other supporting macroeconomic factors suggest that Bitcoin’s rise has not ended. The market will be closely monitored to see how far the assets will go in the future.
What does the post-Gold-Bitcoin correlation reveal about the pathway beyond BTC? It first appeared in Beincrypto.
