Bitcoin (BTC) is increasingly mirroring gold's historic price performance and the global M2 money supply trajectory. This correlation prompts crypto analysts to forecast a potential major rally for the leading cryptocurrency, as noted in an X post earlier today .
Historically, Bitcoin's price movements have aligned with gold, driven by inflation and investor demand. BlackRock's Head of Digital Assets, Robert Mitchnick, recently described BTC as a "superior alternative" to gold .
Another analyst, CryptoGoos, highlighted BTC's tendency to follow shifts in the global M2 money supply, lagging increases by roughly two months. From a technical perspective, Bitcoin formed a golden cross on the four-hour chart today, a bullish indicator .
Analyst Titan of Crypto stated that Bitcoin is following the Golden Ratio Multiplier, targeting $130,000. KillaXBT predicted a BTC price of $120,000 by mid-June .
However, analysts caution that a fall below the $97,000 - $99,000 support range could trigger a correction. Currently, BTC trades at $106,610, up 2.2% in the past 24 hours .