Despite a recent drop in price, there is growing optimism that Bitcoin (BTC) will reach new all-time highs in the coming weeks, mirroring the performance of gold. The recent surge in gold prices, which recently hit a record high of $2,942 per ounce, has fueled speculation that Bitcoin will follow suit. Analysts like Michaël van de Poppe believe Bitcoin is likely to see a strong breakout, suggesting an entry price around $90,000. The increase in physical gold buying, along with US liquidity injections and concerns about inflation, have positioned gold as a global hedge, which is expected to positively impact Bitcoin. Moreover, recent developments at major exchanges, such as Binance, which reportedly sold off a significant amount of its cryptocurrency reserves, contributed to Bitcoin's volatility. However, many in the crypto community are confident in a positive market correction, asserting that as long as gold trends upward, Bitcoin typically experiences a similar breakout within a few months.

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