- Bitcoin lagged in October, but analysts say its stability signals strength.
- The “digital gold” has failed to follow rising bullion prices as gold hits new highs.
- An analyst says a massive move, resembling late 2024, “will begin very soon.”
A strange and deceptively calm mood has settled over the Bitcoin market.
While its analog cousin, gold, is once again climbing to record highs and U.S. equities sit in the green, the king of crypto remains stuck in a frustrating holding pattern and refuses to join the rally.
For some of the market’s keenest observers, however, this is not a sign of weakness but a quietly coiled spring—the calm before a powerful, imminent surge.
Price action has been a familiar and aggravating story for bulls. Bitcoin has dropped 1.2 percent over the past 24 hours to $111,500, while much of the broader crypto sector has seen even steeper losses.
But beneath the sluggish surface, a strong undercurrent of institutional demand and shifting macroeconomic trends is steadily building a case for a major breakout.
A prophecy of a powerful move
Quinn Thompson, chief investment officer at Lekker Capital, spoke at the Digital Asset Summit in London on Wednesday and offered a bold, bullish forecast.
He argued that Bitcoin’s current decoupling from gold is a temporary anomaly that is about to correct itself dramatically.
“I contend that we will catch up to gold,” he told the audience.
“It will begin very soon, and the move that’s coming in Bitcoin and crypto will broadly resemble the movement from November 2024 and October 2023.”
Those were periods of explosive, parabolic gains, and Thompson’s prediction signals he believes a similar ignition is imminent.
A demand “floor” and a path to $150,000
This view is not held in isolation. Matt Mena, a crypto research analyst at 21Shares, echoed similar sentiments, saying Bitcoin’s notable resilience amid global uncertainty is evidence of its underlying strength.
That resilience, he says, “underscores how structural demand—anchored in ETF inflows and a more dovish policy stance—continues to provide a floor.”
With speculative leverage recently flushed from the system and a new era of monetary easing on the horizon, Mena now expects Bitcoin could rise to $150,000 before year-end.
The Fed’s shadow looms large
Everyone agrees that the key to unlocking this potential lies with the U.S. central bank. Market conviction that the Fed is moving toward easier policy is the primary engine of the current risk-on sentiment.
That conviction was reinforced Wednesday with the release of the Fed’s Beige Book, which reported growing signs of weakness in the U.S. labor market.
Fed Chair Jerome Powell has acknowledged this “softness,” a clear signal to markets that additional rate cuts are very much on the table for the two remaining policy meetings this year.
For now, Bitcoin waits—a sleeping giant biding its time. If the analysts are correct, that sleep could be building to a spectacular and explosive climax.