Bitcoin rolls over as gold gets huge $23K price target by 2034
24.01.2026
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Bitcoin dropped further below $90,000 while gold and silver kept beating records, leading to a long-term price forecast of $23,000.
Bitcoin price shies away from breakout moves
Bitcoin's stuck in a boring sideways grind below $90K while gold's flexing with a 2% push toward $5,000 per ounce. Bullish BTC calls are getting rare as safe havens absolutely dominate.
- • Bitcoin fails to shift its sideways trading behavior while gold comes within 2% of $5,000 per ounce.
- • Bullish BTC price outlooks become increasingly rare as safe havens outperform.
- • Gold snags an unprecedented $23,000 target for the next eight years.
TradingView data shows BTC price action looking dead compared to precious metals hitting record highs. As traders brace for new macro lows for BTC/USD, upside targets now focus on the 2025 yearly open at $93,500.
So my bullish outlook still has our going down overall to $75,000 - $70,000 region, but we revisit $100,000 first.
Trader Crypto Tony told X followers that the 2025 starting level lines up with a nearby "gap" in CME Group's Bitcoin futures, making it a price magnet. "We would only see this happen if we get that leg up to $93,000 to close the CME gap IMO," he said.
A tap of $85,000 would present the best long opportunity. IF WE HOLD.
Earlier, BTC/USD filled an open gap at $88,000 before rebounding—now the only gaps left are above spot price. CoinGlass data shows thick liquidation levels at $88,300 and $90,100 as US trading approached.
Crypto trader Michaël van de Poppe warned: "If the $86.8K level is lost and doesn't get reclaimed quickly after that, I would assume we'll start to see a test of the lows."
On the other hand, a crucial level is found at $91K. Break that & we'll see a strong surge.
Gold prediction sees $23,000 per ounce
While BTC chills, gold and silver are stealing headlines—approaching the psychological levels of $5,000 and $100 respectively. XAU/USD hit new highs of $4,967 overnight, with BTC/XAU barely holding 18 ounces.
Gold's monthly RSI is at its most "overbought" since the 1970s, but bullish forecasts keep flowing. Charles Edwards, founder of Capriole Investments, dropped a nuclear take: $23,000 gold price target.
We have record high Central bank gold accumulation. China has 10Xed their gold stack in the last 2 years alone.
Edwards says the current asset bull run could follow the greatest 20th century expansions. If it does, "...we can expect the gold price to trend to between $12,000 to $23,000 over the coming 3-8 years."
#Cryptocurrency Price Prediction#Bitcoin Price Predictions#Cryptocurrency market#Technical analysis
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