Gold’s Record Run in September Could Send Bitcoin to $185,000, Analysts Say

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In September 2025, gold set a new record high at $3,659 per ounce, extending its fourth consecutive week of gains. Bitcoin enthusiasts, fingers hovering over their wallets, eagerly awaited BTC to follow suit as the correlation between the two assets caught more attention than ever before.

But hold your horses, folks! It turns out capital flows might paint a slightly more confusing picture. As it turns out, investors have been moving their shiny metal obsession elsewhere, and it’s affecting Bitcoin’s performance. Classic case of “I’m interested in gold today, not so much your shiny Bitcoin, thank you.”

Experts Predict Gold Will Keep Rising

Black Swan Capitalist Versan Aljarrah, bless his heart, shared some juicy data from Crescat Capital over on X (formerly Twitter). According to Aljarrah, foreign central banks now hold more gold than US Treasuries for the first time since 1996. Yikes. This has led him to predict gold could hit $4,000, which would certainly put gold in the “rich people’s favorite toy” category.

Other analysts were more than happy to jump in, adding that gold has surpassed its inflation-adjusted peak from 1980. If that doesn’t sound like “we’ve reached a historic moment,” then I’m not sure what does. EndGame Macro, on X, celebrated the shiny metal’s victory over 45 years of waiting in the wings.

But why, you ask? Well, the surge is more than just some random fascination with shiny stuff. It’s a symptom of the deepening lack of faith in the current monetary system, with everything from ballooning US debt to geopolitical tensions and central bank shopping sprees playing their parts. Oh, and don’t forget the Fed’s credibility crisis!

“Gold doesn’t just rally because people suddenly like shiny metal, it rallies because confidence in the system is slipping,” said EndGame Macro, who clearly has a knack for poetic finance.

Meanwhile, Ray Dalio, founder of Bridgewater Associates, added his two cents, warning about a potential stagflationary environment-fancy word for global debt slinging and cash running low. If this keeps up, guess who’s going to win the “most valuable asset” contest? That’s right, gold.

Gold’s Rise Brings Fresh Hope for Bitcoin

But let’s not count Bitcoin out just yet. According to Joe Consorti, a Bitcoin analyst on X, gold typically leads Bitcoin by about 100 days. So, don’t put all your eggs in one basket just yet. While gold is the trendsetter, BTC is merely waiting in the wings, ready to swoop in.

Other analysts, such as those from Tephra Digital, believe Bitcoin is lagging just a tad longer. They suggest that BTC has a cozy relationship with M2 money supply and gold’s rally, with a slight delay-102 days for M2, 200 days for gold. I guess BTC likes to take its time!

“If Bitcoin’s lagged M2 and gold correlations hold, the rest of the year could be very interesting. Charts below point to $167k-185k,” Tephra Digital LLC predicted, flashing their crystal ball.

Even though there’s some debate, Joe Consorti and Tephra Digital both agree on one thing: gold and Bitcoin are heading for a prosperous future. Or at least that’s what they’re hoping for.

But, and this is a big BUT, there are some lingering worries. Silver, yes, silver, just broke above $41, its highest level since 2012. You know what that means? Gold and silver may be getting more love than Bitcoin these days. Ouch. Let’s hope BTC doesn’t get jealous!

“It seems like capital is starting to rotate out of assets that had skyrocketed, like Bitcoin, and into traditional safe havens like precious metals,” said investor LBroad, who clearly has a front-row seat to the drama.

And to add fuel to the fire, economist Peter Schiff pointed out that Bitcoin, when priced in gold, is still about 16% lower than its peak in November 2021. Yikes! This is the part where Bitcoin starts to sulk in the corner, while gold gets all the attention.

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2025-09-09 14:07