Bitcoin Breaks Free: Glassnode Analyst Declares Digital Gold No Longer Needs Traditional Metals
Bitcoin just declared independence from the old guard.
A fresh analysis from on-chain data firm Glassnode throws cold water on a long-held market narrative. The flagship cryptocurrency, according to their latest findings, is charting its own course—completely untethered from the traditional safe-haven assets of gold and silver.
The Decoupling Is Real
For years, traders watched the correlation between Bitcoin and precious metals, looking for signals. That playbook might be obsolete. The data suggests Bitcoin's price action is now driven by its own unique ecosystem forces: adoption cycles, regulatory clarity, and pure network momentum. It's not looking to gold for validation anymore.
What's Fueling the Solo Flight?
The shift points to a maturing asset class finding its feet. Institutional inflows, the evolution of Bitcoin as a treasury reserve asset for corporations, and its fixed, predictable monetary policy are creating a demand driver that simply doesn't exist in the metals market. Why hedge with a physical commodity when you can own a globally-settled, digitally-native one? Some might call that progress; a cynical Wall Street veteran would just mutter about 'another asset bubble looking for a story.'
One thing's clear: Bitcoin is writing its own rules. And it's doing so without a golden safety net.
Lyn Alden does not see Bitcoin and gold as market competitors
Similar to James Check’s perspective, Macro strategist Lyn Alden said on a podcast that while many pit BTC against gold, she doesn’t share that view. She pointed out that the Bitcoin-to-gold ratio has surged recently because BTC saw a relatively flat performance, while gold has had one of its best years.
She insisted that both assets have strong long-term foundations, driving their value, and hinted that the two will continue to thrive. McGlone, however, has issued a warning indicating a lower Bitcoin-to-gold ratio at the end of 2025, a trend often linked to an economic downturn. He expects Bitcoin to drop to as low as $50,000 in 2026, a prediction also shared by veteran trader Peter Brandt. But Brandt earlier predicted that the token may fall to $60,000 by the third quarter of 2026
According to Trading Economics, on Friday, gold climbed to $4,533 and silver surpassed $77, hitting new all-time highs. However, BTC has declined by almost 30% from its all-time high of $125,100 on October 5, with its price currently at $87,613.
Nonetheless, on Friday, Michael van de Poppe, founder of MN Trading Capital, said he expects BTC to rise in tandem with gold. Peter Grant, VP and senior metals strategist at Zaner Metals, also told reporters that the current market volatility in thin markets is being fueled by concerns over a potential Fed easing in 2026, the weakening of the dollar, and geopolitical uncertainty.
Some bitcoiners believe BTC will post steady gains for the next decade
From late 2022 through late 2024, the prices of gold and bitcoin moved similarly, leading analysts to expect the trend to continue. So far this year, the correlation has waned, with gold rising 60% and BTC falling 7.2%. Moreover, the two markets are seeing very different sentiments. Saturday’s readings: Gold Fear & Greed Index was at 79 (“Greed”) while Crypto Fear & Greed Index was at 24 (“Extreme Fear”).
Still, several BTC executives are optimistic that prices will recover in 2026. For instance, Matt Hougan, Chief Investment Officer at Bitwise, stated on Friday that Bitcoin is expected to improve significantly next year and potentially achieve more stable returns over the next decade. Similarly, Jan3’s Samson Mow also thinks a ten-year bull run may be underway.
Sebastian Beau, chief investment officer at ReserveOne, also noted that the fate of Bitcoin’s four-year cycle is still uncertain. He described the sharp decline from October’s $125,000 high to roughly $87,000 as particularly painful. However, investors remain divided on whether the cycle is over, as Bitcoin’s October peak aligns with the peaks of the previous four-year cycles, suggesting that 2026 could be weaker.
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