Crypto: Bitcoin Stays Range-bound As Gold Eyes $12k–$23k Long-term Target

Bitcoin slipped below $90,000 while gold approached fresh highs, fueling long-term forecasts of up to $23,000 per ounce.

Bitcoin (BTC) stayed trapped below $90,000 at Friday’s Wall Street open as gold and silver approached historic milestones.

Bitcoin fails to shift its sideways trading behavior while gold comes within 2% of $5,000 per ounce.

Bullish BTC price outlooks become increasingly rare as safe havens outperform.

Gold snags an unprecedented $23,000 target for the next eight years.

Data from TradingView showed stationary BTC price action contrasting more and more with record highs for precious metals.

As traders agreed that new macro lows were on the cards for BTC/USD, upside targets increasingly focused on the 2025 yearly open at $93,500.

“So my bullish outlook still has our going down overall to $75,000 - $70,000 region, but we revisit $100,000 first,” trader Crypto Tony told X followers in his analysis.

Crypto Tony noted that the 2025 starting level coincided with a nearby “gap” in CME Group’s Bitcoin futures, potentially increasing its pull as a price magnet.

“We would only see this happen if we get that leg up to $93,000 to close the CME gap IMO,” he continued.

Source: CoinTelegraph