Bitcoin surged back above $110,000 on Tuesday, rebounding from a weekend dip near the CME futures gap, while gold suffered a steep 5.5% correction, sparking talk of a possible “double top” formation.
After briefly retreating, BTC/USD regained momentum, showing strong volatility as traders fought to regain control amid thickening liquidity. Data showed funding rates dipping into negative territory a sign of cautious sentiment while analysts flagged $116,000 as the next key resistance level.
Market analyst Rekt Capital noted that Bitcoin must hold its current support near the 21-week EMA to confirm a higher low and maintain bullish momentum. Meanwhile, gold, after recently touching record highs, tumbled sharply, with analysts like James Stanley of Forex.com predicting a possible retest near $4,000 if the bearish “double top” pattern plays out.
Crypto traders, however, view the gold decline as potentially bullish for Bitcoin and altcoins. As trader Crypto Tony commented, “Once gold cools off, expect a crypto boom.”
Bitcoin’s rise above $110K amid gold’s sharp decline highlights a shifting market sentiment. As traditional safe havens like gold falter, investors appear to be leaning back toward digital assets signaling renewed optimism in the crypto market’s potential for the final quarter of 2025.
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