BTC ‘Best Buying Opportunity’ of 2017

Bitcoin (BTC) fell to record lows against gold in January, which analysts say is a better buying opportunity than before the 2015-2017 bull market.

Main Receptors:

BTC vs Gold has reached record lows, a level that is in line with previous major lows.

Some analysts warn that the conversion from gold to BTC is not guaranteed.

The shift from gold to bitcoin could begin in February.

Bitcoin prices fell to record lows against gold on Saturday after a correction in global money supply, data from Bitwise Europe showed.

The indicator shows when Bitcoin is unusually strong or weak compared to gold. It has moved past the extreme zone (the -2 level in the chart below) that was previously seen at the bottom of the BTC market.

This band last fell to the same levels in 2015. It was in 2015, which shows BTC's high valuation of gold. That's an 11,800% jump in BTC's price to $20,000 from around $165 two years ago. Analyst Michael van de Pop said in a Saturday X post:

“Today represents a better opportunity to buy Bitcoin than in 2017.”

His comments echoed analysts who expect some capital to flow from gold to Bitcoin this year.

This includes Andre Dragoš, Head of European Research at Bitwise, and Pav Hundel, Lead Analyst at SwiftX. The latter, such rotations can begin to occur in February or March.

Capital rotation “may not happen quickly”

Bullish views have emerged as the price of gold has doubled in the past year, while bitcoin has fallen 18 percent over the same period.

But not everyone, including analyst Benjamin Cowen, agrees that a shift away from precious metals to Bitcoin is inevitable.

He argued that BTC will “continue to bleed into the stock market” and that hopes of a “big swing” from gold and silver could be misplaced in the short term, arguing that Bitcoin's decline may last longer than many owners expect.

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Citi said silver could extend its gains over the next few months due to Chinese demand and a weaker US dollar. Similarly, RBC Capital Markets predicted that gold prices will reach $7,000 by the end of 2026.

Cowen said a move into bitcoin “probably won't happen” quickly, even if precious metals remain strong.

Long-term holders of Bitcoin will receive the January sale

Despite Bitcoin's sharp pullback in January, on-chain data shows that long-term holders are quietly building positions.

The supply held by Bitcoin long-term holders (LTH), entities holding BTC for more than 155 days, began a recovery in the January selloff.

Also, the LTH Specpent Binary, a gauge of whether long-term bitcoin holders are selling or holding, continues to decline during this period.

In previous cycles, LTH supply recovered and LTH cost fell binary before a durable BTC bottom formed, analyst Anil said.

A recent example came after the April 2025 lows: long-term bond supply began to recover first, and BTC rebounded sharply about a month later to reach roughly 60% of its lows.

These trends suggest that many bullies are taking advantage of the BTC price drop in January, often a kind of reset that helps Bitcoin build a solid foundation for future gains.