Analyst Predicts More Pain as Bitcoin Slips 7.8%
Crypto analyst Benjamin Cowen has challenged the popular narrative of an imminent capital rotation from precious metals into Bitcoin, stating the asset will likely "keep bleeding against the stock market." This analysis comes as Bitcoin's price has fallen 7.78% over the past week to trade at $82,859, showing a significant divergence from traditional safe-haven assets.
Investor sentiment has soured, with the Crypto Fear & Greed Index plunging to a score of 16, indicating "extreme fear." The downturn contrasts sharply with the performance of gold and silver, which recently surged to all-time highs of $5,608.33 and $121.64, respectively. Adding to the bullish case for metals, Citi analysts predict silver could climb further to $150 within the next three months.
Some Analysts Eye Potential Q1 2026 Bottom
Despite the bearish short-term outlook, some market observers believe a turning point may be near. Swyftx lead analyst Pav Hundal noted that "Bitcoin bottoms have historically lagged gold’s relative strength by about 14 months," suggesting a potential bottom could form within the next 40 days. He argues that gold typically leads during periods of macro stress, with Bitcoin following once risk appetite returns.
This view is shared by Andre Dragosch, head of research at Bitwise Europe, who noted on January 19 that Bitcoin "is trading at a steep discount to Gold on a relative basis." He described the current market as a "very rare" asymmetric setup, suggesting that if capital flows reverse, the first quarter of 2026 could serve as a key inflection point for Bitcoin's recovery.
