Brandt Considers Swapping Bitcoin for Gold

Peter Brandt, one of the world's best-known technical analysts, is considering selling part of his Bitcoin holdings and reallocating the funds into gold. His decision is based on a breakout in the XAU/BTC ratio, which measures gold's performance against Bitcoin. According to Brandt, the chart suggests that gold could outperform Bitcoin in the coming months.

Brandt shared a monthly XAU/BTC chart on X, showing the ratio climbing to 0.067 after years of decline. In his view, this breakout may mark the beginning of a longer-term uptrend, signaling a shift in favor of gold.

Recent price action also supports this outlook. Since Bitcoin peaked at $126,000 in October 2025, its price has fallen by around 50% to approximately $63,000. During the same period, gold reached a record high above $5,500 at the end of January before correcting roughly 25% to $4,174. Despite the pullback, gold has still outperformed Bitcoin over the current market cycle.

Brandt has maintained a cautious stance on the cryptocurrency market for several months. He previously argued that the most attractive buying opportunity for Bitcoin would be in the $40,000–$60,000 range before the asset could potentially climb to $250,000 in the future.

The veteran trader also emphasized that his decision is driven purely by technical analysis rather than personal conviction. He believes the XAU/BTC ratio will determine whether gold's relative strength is likely to continue or whether Bitcoin will regain momentum and recover its recent losses.