A growing macro pattern suggests that Bitcoin often delivers its strongest rallies only after gold finishes a major advance, according to analysis shared by Michaël van de Poppe.
The comparison chart highlights multiple historical periods where gold surged to new highs, entered consolidation, and was then followed by explosive upside in Bitcoin. Rather than competing assets, the two appear to move in sequence, reflecting shifts in global capital behavior during periods of macro stress.
How the Rotation Has Played Out Before
Van de Poppe points to 2016–2017 as a clear example. Gold peaked first and moved sideways, while Bitcoin later entered a powerful bull run that defined the cycle.
A similar structure emerged again in 2020. Gold reached new all-time highs, paused, and shortly afterward Bitcoin began a multi-year expansion phase.
In both cases, the transition occurred after gold absorbed defensive capital, with investors gradually rotating profits into higher-beta assets like crypto.
What the Current Chart Is Signaling
The latest data shows gold once again reaching record levels and becoming increasingly extended. Historically, this phase has coincided with profit-taking in gold rather than immediate continuation, opening a window for capital reallocation.
Van de Poppe emphasizes that this is not just a Bitcoin-specific setup. Instead, it reflects a broader macroeconomic shiftwhere liquidity moves from safe-haven assets into growth-oriented markets once risk appetite returns.
A Potential Window for Crypto
According to the analysis, the coming 1.5 to 2 years could represent a critical period for Bitcoin and the wider crypto market if the historical pattern repeats.
Gold strength, followed by consolidation, has previously marked the early stages of major crypto expansions, not the end of them.
The takeaway from the chart is clear:
Gold may move first, but Bitcoin has historically delivered the larger move once the rotation begins.
As Van de Poppe puts it, this cycle appears less about isolated assets and more about where global capital flows next.
