Bitcoin Price Forecast: Rising Gold and Silver Values May Propel BTC Upward – Is a Cryptocurrency Rally Imminent?

Bitcoin is currently trading around $87,400, reflecting an increase of approximately 0.8% for the day, as investors reevaluate their risk exposure in light of a significant rally in precious metals. With a market capitalization of $1.74 trillion and a daily trading volume close to $21.7 billion, Bitcoin continues to hold its position as the leading digital asset in the market. Although the price has retreated from December’s peak of $94,600, the present pause appears more indicative of consolidation rather than a sign of weakness.

Market sentiment seems to be increasingly responsive to indications of asset devaluation and escalating global debt levels. This narrative has bolstered the demand for tangible assets and, consequently, reinforced Bitcoin’s function as a macroeconomic hedge rather than merely a speculative asset.

Gold and Silver Reach New Heights

Gold and silver have reached new peaks, altering sentiment across various markets. February gold futures closed near $4,506, after hitting a record high of $4,530, while spot prices were around $4,491.

Gold (XAU/USD) Price Chart – Source: Tradingview

Silver exhibited an even more pronounced increase, with futures climbing over 4% and spot prices remaining above $71, a level that has not been previously observed.

Key factors contributing to the metals rally include:

• Concerns regarding an AI-induced equity bubble
• Uncertainty surrounding future US monetary policy leadership
• Increasing apprehensions about long-term currency devaluation

Experienced investors suggest that the rally may still have room to grow. Some analysts predict that gold could rise significantly beyond current levels if global debt trends remain unchecked, a scenario that historically favors alternative stores of value, including Bitcoin.

Bitcoin Technical Analysis Remains Positive

On the 4-hour chart, Bitcoin’s price outlook remains bearish as BTC continues to operate within a descending channel, indicating controlled profit-taking rather than panic selling. The price is currently near the $87,800 pivot zone, a level that has consistently served as both support and resistance.

Although BTC is trading below the 50-EMA ($87,980) and 100-EMA ($88,610), the downward momentum has evidently diminished.

Bitcoin Price Chart – Source: Tradingview

The candlestick pattern reveals spinning tops and doji formations, indicating indecision rather than a continuation of downward movement. The RSI, positioned near 46, is stabilizing above oversold levels, suggesting that bearish momentum is waning. Structurally, the pattern resembles a falling flag, a formation that often precedes a significant breakout.

Bitcoin Perspective: Consolidation Prior to Expansion

A sustained breakout above $88,600 would open the path to $90,500, followed by $92,650 and a potential retest of $94,600. Conversely, a failure to reclaim critical averages could lead to a retest of $86,300, with stronger demand anticipated around $83,800.

As long as Bitcoin remains above the lower boundary of the channel, the overall setup favors continuation rather than a breakdown. Should gold and silver continue to draw defensive capital, Bitcoin may follow suit as investors shift towards scarce assets.

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