Analysts mapped Bitcoin’s slow path and flagged it at $112,000 as a trigger, but Gold’s supporter Peter Schiff revived the gold-to-batcoin debate by challenging Michael Saylor’s BTC Treasury bet.
James Van Straten, senior analyst at Coindesk, said the Bitcoin market structure has changed with the re-registration of gold.
He expects a slow, stepped advance supported by a stable ETF inflow, with 10-20% pullbacks along the way. He compared the setup to gold in the early 2000s.
In his framing, Bitcoin sometimes lags gold and sometimes outweighs it, but he still sees Bitcoin leading the total return over the full cycle.
Puppy Michael focused on a decent duration level.
He calls the sub $107,000 a purchase zone, informing him that he thinks dip buyers are likely to intervene. Clean rest and retention of over $112,000 in UTC closures, in his view, confirms strength and broadens the appeal of risk. That’s what he means in “Altcoin mode.”
Meanwhile, Eurocapital CEO Peter Schiff challenged Michael Saylor’s strategy by contrasting the strategy’s Bitcoin exposure to the hypothetical gold program.
His core claim is fluidity. He claimed that tens of millions of dollars of gold could be sold with limited market impact, but if you try to leave a similar Bitcoin position, prices could clash violently and copycat sales could begin.
Bitcoin supporters argue that large sellers can set the exits over time, but Schiff’s point is that the market depth of gold offers more flexibility than very large owners.
Coindesk Research Analysis
- Window: 9:00 UTC, 9:00 UTC, 8:00 UTC, 28th September.
- What happened: According to Coindesk Research’s technical analytics data model, Bitcoin is integrated in a band of around $692 (~1%), ranging from $109,156.82 to $109,849.28.
- Support has been shown: Repeated to nearly $109,400 on September 27th (UTC).
- Resistance Formed: Cap rebound of ~$109,750 capped the rebound into the same late window.
- Last 60 minutes: Between 07:09 UTC and 08:08 UTC on September 28th, the price went to $109,663.84 at 08:03 UTC, then settled near $109,580, turning $109,575 into fresh, short-term support.
- Read Through: Support ~$109,400~$109,575. Resistance ~$109,750. If UTC exceeds ~$109,750, then $110,000-$111,000 is set. Lost ~$109,400 and then ~$109,150.
Latest 24-hour and 1-month chart reading
- 24-hour context (14:41 UTC as of September 28th): Prices near $109,724 exceed ~109,400/109,575 support and below ~109,750. Breaks and holds above ~$109,750 (UTC) refer to $110,000-$111,000. It has a lot of momentum of $112,000 and is being watched by many traders. Slipbacks under $109,400 are at risk of ~$109,150 retest, ~$108,500.
- Monthly Context: Mid-September’s high was close to ~$117,000, with Bitcoin compressed into an area of between $109,000 and $112,000. Reclaiming and holding $112,000 would likely rekindle the momentum of the upward trend. If you fail to do so, more horizontal integration is a basic case rather than a trend break in itself.
Disclaimer: Part of this article was generated with the support of AI tools and reviewed by the editorial team to ensure accuracy and compliance with the standards. For more information, see Coindesk’s complete AI policy.
