Gold Rally Often Comes Before Bitcoin’s Big Move, According to Cathie Wood
Gold continues to dominate global markets, climbing to around $4,966 at the time of writing and reinforcing its status as the preferred hedge amid persistent macro uncertainty.
- Gold jumped to about $4,966 while Bitcoin is hovering just below $70,000.
- Cathie Wood says gold and Bitcoin have low correlation, with gold rallies often coming first.
- Gold ETF inflows remain strong, signaling sustained investor demand.
Bitcoin, by contrast, is trading just below $70,000 after a period of sharp swings, leaving investors debating whether crypto is falling behind or simply consolidating.
While both assets are often grouped together as alternatives to fiat currencies, their price behavior in recent years tells a more nuanced story.
Cathie Wood: Gold and Bitcoin Don’t Move Together
According to Cathie Wood, Bitcoin and gold have shown surprisingly little overlap in their price movements. Since 2019, the correlation between the two has hovered around just 0.14, suggesting they tend to respond to different market forces despite similar narratives around scarcity and protection against inflation.
BITCOIN ISN’T TRACKING GOLD … AND THAT’S THE SIGNAL
Cathie Wood says:
– Bitcoin and gold have had a 0.14 correlation since 2019
– Gold has surged while Bitcoin is ~50% off its peak
– Historically, major gold moves have preceded large Bitcoin rallies pic.twitter.com/ybi5PZih87— Ark Invest Tracker (@ArkkDaily) February 7, 2026
Wood also points to a recurring historical pattern – major gold rallies have often occurred before large Bitcoin advances, rather than alongside them. In past cycles, gold strength has acted as an early signal, with Bitcoin following later once risk appetite returned.
ETF Inflows Highlight Strong Gold Demand
Investor behavior appears to support that thesis. Holdings in the largest physically backed gold ETF, SPDR Gold Trust ($GLD), have risen to approximately 34.9 million troy ounces, the highest level since May 2022. Since June 2024, holdings have increased by around 8 million ounces, representing growth of roughly 30% in just a few months.
Across the broader market, gold and precious-metal ETFs attracted more than $4.3 billion in inflows in January alone, marking the eighth consecutive month of net buying. Gold miner ETFs also saw strong interest, pulling in about $3.6 billion – the largest inflow since at least 2009.
Bitcoin Consolidates as Gold Absorbs Defensive Capital
The contrast between the two assets is becoming increasingly visible. Gold is benefiting from defensive positioning tied to inflation risks, geopolitical tensions, and uncertainty around global monetary policy. Bitcoin, meanwhile, has struggled to reclaim momentum near its highs, even as long-term narratives around scarcity and adoption remain intact.
For some analysts, this divergence is not a warning sign but a familiar setup. If historical relationships repeat, sustained strength in gold could once again precede a renewed Bitcoin rally, rather than signal a lasting shift away from digital assets.
As gold continues to attract capital at a record pace, Bitcoin’s consolidation below $70,000 may prove less a sign of weakness and more a pause before the next phase of the cycle.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
