Bitcoin [BTC] has lagged behind metals or traditional safe havens such as gold and silver. The recent explosive silver rally to a new all-time high (ATH) of $83 was marked by a wider price range for BTC below $90K.
Analysts had done that before stated that the rise in metals capped BTC’s recovery, and a correction could provide relief for the cryptocurrency.
The White House Whale, aka Garret Bullish, is the most bullish analyst on crypto, citing possible corrections on silver and gold.
Now that the metals have given back their recent gains, Garret projected that silver and gold had peaked and capital was moving into crypto.
“In today’s market, capital has already been converted into crypto. Even as stocks sold off after the open, crypto continued to rise.”
He added that A Bitcoin A short squeeze could push crypto prices higher without any pullback.
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Whale is betting big on crypto rebound
For the unfamiliar, Garret Bullish is the White House whale who made a $160 million profit in October by shorting BTC before Donald Trump’s China tariff.
Some claimed he was an insider who traded on policy decisions before they were made public.
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In his latest projection, he even put the money on the line. Arkham facts showed that he controls $10 billion and is up $70 million on the long positions opened in BTC, Ethereum [ETH]And Solana [SOL].
His largest position was ETH at a whopping $634 million and was almost breakeven at the current ETH level of $3K.
During a similar silver and gold correction in October, BTC even rose 7%. Given Garrett’s access to policy information, his analyzes are always difficult to ignore.
Source: Silver vs Gold vs BTC, TradingView
Will capital rotation take longer?
That said, correlation does not necessarily mean causation. Yes, it was true that there was a slight increase in BTC ETF inflow ($458 million demand during the week of December 28 – January 2).
Over the same period, gold ETF inflows continued to decline. So there was indeed a slight capital rotation from gold to BTC, as Garrett stated.
Source: Vet report
However, both investments have suffered a continued decline in inflows since November.
Moreover, a week was a limited period to definitively determine whether the trend would continue and boost BTC and the rest of the crypto market. At the time of writing, BTC was trading at $89.9K, up 2% through 2026.
Perhaps MSCI’s possible delisting of BTC government bonds and the Fed’s interest rate decision, scheduled for January 15 and January 28 respectively, will trigger BTC’s next move.
Final thoughts
- A White House insider predicted that the crypto market could rebound as silver and gold retreated
- Despite the bullish outlook, the upcoming decision of the MSCI index and the Fed could impact the market