Bitcoin Bull Run Brewing: ATH In Sight By Late 2026: Analyst

Bitcoin’s valuation against gold has dropped to one of its lowest levels on record — a signal that, historically, has shown up near major market bottoms.

A Pattern Worth Watching

That’s one of the key observations from crypto analyst Michael van de Poppe, who believes Bitcoin is building toward new all-time highs before the year is out.

Van de Poppe points to the relationship between Bitcoin and gold as a telling sign. When gold rallies hard, Bitcoin often lags. But once gold peaks, Bitcoin has tended to catch up — and then some. That rotation, he argues, may already be in motion.

His broader case rests on more than just one metric. The Sharpe ratio — a measure of return relative to risk — is currently sitting at levels that mirror past bear market floors: 2015, 2018, and 2022.

Each of those periods was followed by significant price recoveries. Based on that pattern, van de Poppe believes Bitcoin is undervalued right now and offers a strong risk-reward setup for long-term investors.

Short-term dips, he said, remain possible. But the overall structure of the market, in his view, points higher.

Key Price Levels To Watch

Bitcoin recently hit a 12-week high before pulling back. It is now working to hold above the $77,000 mark. According to van de Poppe, $79,000 is the critical resistance line.

A clean break above it would open the door to a move between $86,000 and $95,000. From there, $110,000 becomes the next target over a six-month window.

Bitcoin is currently trading at $76,049. Chart: TradingView

On the downside, $73,500 is the level to watch. If that support holds, the uptrend stays intact. If it breaks, a deeper retest could come before any renewed push higher.

Data shows that Bitcoin dropped close to $60,000 back in February before snapping back sharply — a move that caught many traders off guard. That kind of recovery against bearish sentiment is not unusual in past cycles, reports note.