What if Bitcoin was about to rewrite history?

While stock markets plummet in free fall and gold takes a pause after its last glow, the first cryptocurrency proudly holds its head high.

Stock markets may be plummeting in a dramatic free fall, and gold took a pause after its last stellar performance, but the first cryptocurrency is holding its head high. It's no longer clinging to the wheel of its elders; it's galloping ahead in a phenomenon that some already describe as the great decoupling. A new era where Bitcoin is not following anyone, not even gold. And in the distance, like a star in the sky of financial imagination: $100,000. Analyst fantasy? Leap of faith? Or simply the logical continuation of a scenario already written ...

Decoupling in progress: Bitcoin detaches from classic benchmarks

The scenario could have looked like a remake of 2020: a shocking announcement from the White House, panic in the markets, massive sell-off of risky assets. And yet ... Bitcoin held strong.

While American stock markets were down 10.65% and gold, despite a historic peak of $3,167, fell by 4.8%, BTC rose by 4.5%, once again crossing the mark of $84,700.

On X, James Seyffart is astonished:

I am really a bit shocked by Bitcoin's resilience. I never envisaged it holding above $80,000 in such a massive sell-off of risky assets ... Even gold is in negative territory?

The same sentiment is shared by Crypto Rover, who exclaims:

American stocks are crashing. Gold is crashing. Bitcoin is rising. An incredible force!

This is where enters an old couple from the financial world: gold and Bitcoin. The famous "gold leads, Bitcoin follows," a theory that has returned like an obsessive refrain among analysts.

What if history were to repeat itself? In 2019 already, gold rose by 15% ... before the Bitcoin price exploded by 170%.

This time, some, like MacroScope, see in a return to 100K "a strong signal that a new long-term movement is underway." A passing of the torch. A rite of passage.

The $100,000 in sight — between graphic hopes and macro threats

The mythical barrier of $100,000 is no longer just a shiny number that dazzles in the dreams of maximalists. It's a milestone, a signal. For some, crossing it would mark the beginning of a new long-term cycle, a cycle where Bitcoin definitively emancipates itself from its status as an alternative asset to become ... an obvious choice.

But beware of the sirens. The BTC/XAU ratio, which measures Bitcoin's strength against gold, shows a bearish fractal, identical to the one that preceded a massive drop in 2021. If the scenario repeats itself, a correction towards $65,000, even $20,000, is not excluded. Yes, even in this golden dream, the ground can shift beneath our feet.

And as if that weren't enough, the economic horizon remains turbulent: the Fed curbs enthusiasm, pushes back hopes for rate cuts, while Donald Trump raises the threat of a global trade war.

So, dream or reality, is this threshold of $100,000? One thing is certain: Bitcoin is in the process of inventing its own grammar. It writes its score against the clock. And while indexes stumble, precious metals hesitate, it carves its path towards the unknown, altitude, audacity. For Arthur Hayes, this rising tension orchestrated by Trump could well become the very essence of a new bull market: "the tariffs will propel gold and Bitcoin to new highs." The best may still be to come.

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