Bitcoin (BTC) has continued to show strength following a resilient recovery from its April lows. The cryptocurrency is currently trading around $104,921. Notably, after dipping below $80,000 amid heightened U.S.-China tariff tensions, Bitcoin rebounded strongly, gaining approximately 25% in April alone before a further surge this month. Renewed institutional interest has bolstered this upward momentum, including significant inflows into spot Bitcoin ETFs from firms like BlackRock and Fidelity. That said, in this bullish environment, market analyst “apsk32” has projected that Bitcoin could reach $220,000 by the end of 2025 if its historical correlation with gold remains intact. In a recent tweet , the pundit argued that Bitcoin’s price movements continue to reflect long-term patterns tied to gold, not fiat currencies like the U.S. dollar, which he claims distorts BTC’s real value due to inflation. “The peg to fiat hides the truth,” he stated, citing a valuation model that prices Bitcoin in ounces of gold rather than dollars. The model uses a power-law function, a mathematical formula that accounts for Bitcoin’s cyclical nature. According to the analyst, Bitcoin currently represents over 643 million ounces of gold in market capitalization. This relationship, he suggested, puts the digital asset on track to match or exceed $220,000 in the coming months, assuming gold’s rally continues and Bitcoin maintains its historical pattern of lagging gold’s movements by a few months. Notably, Gold recently reached a record price of $3,500 per ounce, forming what the analyst describes as a “very bright” backdrop for Bitcoin. Although a theoretical top of $444,000 is possible based on this model, the analyst noted he believes $220,000 is a more realistic ceiling for 2025. But the journey to that target is not without obstacles. Market data shows a significant liquidity barrier between $105,000 and $110,000, where large sell orders could suppress upward momentum. Key support is seen at around $98,000 to $100,000, a level some analysts call “critical” for sustaining the uptrend. Elsewhere, Michael van de Poppe, a popular crypto trader and founder of MN Trading, echoed this sentiment, stating that Bitcoin needs to hold above $98,000 to continue its bullish momentum. “ It’s the last major consolidation before the breakout, ” he said. Meanwhile, other prominent voices have weighed in with similar bullish predictions. Robert Kiyosaki, author of Rich Dad Poor Dad , doubled down on his support for Bitcoin, calling it a hedge against a collapsing central banking system. “ I predict Bitcoin climbs to $250K this year. Buy more. Do not sell ,” he urged his followers on Saturday However, not all indicators point to a smooth ride. According to crypto analytics platform Glassnode, Bitcoin’s short-term correlation to gold has recently dropped to -0.54, its lowest since February, implying that in the short run, BTC and gold are currently moving in opposite directions. Still, long-term correlations remain intact, with 90-day and 365-day values at 0.39 and 0.60, respectively.
