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Bitcoin traded at $115,316 today, showing significant strength against gold with a 40% gain since April. The BTC/XAU ratio reflected this momentum, indicating a rising possibility of Bitcoin challenging gold’s long-standing dominance. With Bitcoin’s market cap nearing $2.3 trillion, the debate over its potential to rival gold’s $22.58 trillion valuation is intensifying.

This renewed attention has sparked fresh Bitcoin price prediction models, highlighting the gap BTC must close to reach gold’s market cap. At the current circulating supply of around 19.89 million coins, Bitcoin would need to trade at approximately $1.2 million per coin. Although the price jump seems large, BTC’s historical performance keeps long-term projections alive.

Analysts are drawing attention to Bitcoin’s increasing correlation with traditional stores of value, particularly as gold remains relatively stable. This comparison has gained traction as Bitcoin’s stock-to-flow ratio reportedly outpaces that of gold. Market observers continue to monitor the BTC/XAU ratio, which confirms a strong upward trend in BTC’s favor.

BTC Market Strengthens Against Gold

Since April, Bitcoin has increased its value in gold terms by over 40%, boosting investor interest in the BTC/XAU pair. The surge marks Bitcoin’s growing acceptance as a store of value, a role traditionally held by gold. This development supports the ongoing narrative of digital assets challenging precious metals in financial markets.

Gold market cap is ~$20T
Bitcoin market cap is ~$2T
So, gold is worth 10x bitcoin

Gold scarcity (stock-to-flow ratio) is ~60
Bitcoin scarcity is ~120
So, bitcoin is 2x scarcer than gold

IMO bitcoin is at least 10x undervalued pic.twitter.com/j6dc9uTRhJ

— PlanB (@100trillionUSD) July 21, 2025

Although Bitcoin still trails gold significantly in total valuation, its current trajectory points toward long-term convergence. The market momentum has led to broader discussions around Bitcoin price prediction and its viability as a global financial asset. Observers continue to note shifts in sentiment from traditional gold advocates.

Meanwhile, voices in the financial space acknowledge Bitcoin’s recent gains, citing short-term strength and long-term possibilities. Technical indicators remain mixed, with price movements reflecting both resistance and recovery patterns. However, the BTC/XAU chart maintains a bullish structure despite current corrections in the broader market.

Bitcoin Price Prediction: Path to $1.2 Million

To match gold’s $22.58 trillion market cap, Bitcoin must rise nearly tenfold from its current price. This projection places the Bitcoin price prediction at around $1.2 million, assuming a fixed circulating supply. Such a valuation would require sustained capital inflow and broader institutional adoption.

Supporters argue that Bitcoin’s scarcity model strengthens its appeal as a long-term store of value. With a stock-to-flow ratio estimated around 120, BTC offers a deflationary model unlike any fiat currency. These structural attributes fuel continued speculation around its future market cap potential.

Despite recent declines, the broader trend suggests ongoing accumulation phases for BTC. Traders are assessing current resistance zones, particularly as Bitcoin tests previous support levels. Short-term volatility remains, but the long-term Bitcoin price prediction continues to attract attention from analysts and institutions alike.

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