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- Bitcoin has gained over 13% in two weeks, outperforming gold and the S&P 500.
- Technical indicators suggest BTC may have bottomed against gold, signaling a potential new cycle phase.
- Altcoins like XRP are showing early momentum, hinting at possible selective capital rotation.
Bitcoin is showing renewed strength after rebounding from its recent $60,000 dip, once again outperforming traditional financial markets. The recovery has reignited debate around Bitcoin’s role as a competing store of value alongside gold. At the same time, subtle shifts across the broader crypto market suggest capital may be positioning for the next phase of the cycle—one that could eventually lift select altcoins.
Over the past two weeks, Bitcoin’s performance has stood out against both gold and equities, hinting that investor appetite for digital assets may be returning despite ongoing macroeconomic pressures.
Bitcoin Outpaces Gold and Stocks
Bitcoin climbed back above $71,700 on March 11, marking a roughly 13% gain since its late-February dip. In comparison, gold posted a modest rise of about 1.6% during the same period, while the S&P 500 slipped slightly.
The divergence suggests a shift in capital flows, with investors gradually rotating back into crypto. Market tensions linked to geopolitical uncertainty—particularly concerns around conflict involving Iran, Israel, and the United States—have historically boosted gold demand. Yet this time, Bitcoin moved faster, partly due to its continuous global trading and growing perception as a digital alternative to traditional safe-haven assets.
Even so, Bitcoin remains in a consolidation phase near the $70,000 level, reflecting a market that is still weighing macroeconomic risks.
BTC/Gold Chart Signals Possible Cycle Bottom
Technical indicators comparing Bitcoin to gold may be hinting at a turning point. Historical data shows that Bitcoin typically forms a cycle bottom against gold after extended periods of underperformance.
In 2018, Bitcoin took about 12 months to bottom relative to gold. The 2022 cycle lasted roughly 13 months. If the current cycle followed the same pattern, the recent downturn—lasting around 14 months—could mark another long-term bottom.
Momentum indicators such as the monthly Relative Strength Index (RSI) have also rebounded from levels that previously marked major cycle lows. Analysts note that corrections have been gradually lengthening with each cycle, reflecting the influence of larger institutional capital moving more slowly through the market.
Altcoins Begin Showing Early Signs of Strength
While Bitcoin trades sideways, attention is quietly shifting toward altcoins. Historically, extended Bitcoin consolidation periods often trigger capital rotation into smaller assets as traders hunt for higher short-term returns.
However, the broader market has not fully entered “altcoin season” yet. Ethereum’s market dominance remains stuck below key resistance levels, and the ETH/BTC ratio continues to struggle.
Despite that, selective momentum is emerging. XRP has gained traction as Ripple expands its regulatory footprint, including a potential acquisition of BC Payments Australia that could secure an Australian Financial Services License. The move would push Ripple’s total regulatory approvals past 75 globally.
On-chain activity reflects growing interest as well. Recent spikes in XRP withdrawals from major exchanges suggest investors may be accumulating. Meanwhile, the altcoin market cap excluding Bitcoin and Ethereum has climbed roughly 11% since early February, hinting that early positioning may already be underway.
Also Read: Bitcoin, Ethereum, XRP Hold Strong After $459M Liquidations – What’s Next?
Bitcoin’s recovery above $71,000 signals renewed market confidence, particularly as it outperforms gold and equities during a period of global uncertainty. While the asset remains locked in a sideways range, technical indicators suggest its long stretch of underperformance against gold may be nearing an end.
At the same time, early signs of strength among select altcoins—especially XRP—indicate that investors could be preparing for the next phase of the crypto cycle. If Bitcoin continues consolidating while capital rotates selectively, the coming months may reveal whether altcoins are ready to take the lead.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
