Bitcoin (BTC) remained trapped below $90,000 on Wall Street on Friday as gold and silver approached historic milestones.

Key Points:

• Bitcoin remains unchanged in its sideways trading behavior, while gold is trading within 2% of $5,000 an ounce.

• Bullish BTC price outlooks are becoming rarer as protected havens outperform.

• Gold hits an unprecedented target of $23,000 for the next eight years.

Bitcoin price avoids breakout moves

Data from TradingView showed BTC’s steady price action increasingly contrasting with the precious metals’ record highs.

As investors have agreed that recent macro lows are possible in the BTC/USD market, upside targets have increasingly focused on a 2025 yearly open of $93,500.

“So my bullish outlook still includes an overall drop to $75,000-$70,000 in the region, but we get back to $100,000 first,” Crypto trader Tony told X’s followers on his latest analysis.

Crypto Tony noted that the 2025 entry level coincided with a nearby “gap” in CME Group’s Bitcoin futures, potentially increasing its pull as a price magnet.

“We would only see this happen if we raised this leg to $93,000 to close the CME gap IMO,” he continued.

“An $85,000 tap would represent the best long shot. IF WE HOLD.”

Previously, BTC/USD “filled” the open gap at $88,000 before recovering to current levels, with the only gaps currently remaining above the spot price.

Data from the monitoring resource CoinGlass showed rising liquidation levels at $88,300 and $90,100 as the US trading session approached.

“If the $86.8K level is lost and not recovered quickly afterwards, I assume we will start seeing a test of the lows” – Cryptocurrency trader, analyst and entrepreneur Michaël van de Poppe he wrote in Update X that day.

“On the other hand, the key level is $91,000. Break it and we will see strong growth.”

Gold forecast is $23,000 per ounce

The headlines focused mainly on precious metals as both gold and silver approached key psychological levels of $5,000 and $100, respectively.

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XAU/USD hit recent highs overnight at $4,967 per ounce, and BTC/XAU barely held on to 18 ounces.

Although gold’s monthly Relative Strength Index (RSI) values ​​have reached “overbought” levels since the 1970s, bull price predictions have continued to hold true.

Charles Edwards, founder of quantitative Bitcoin and digital asset fund Capriole Investments, unveiled a whopping gold price of $23,000.

“We have a record high accumulation of gold in the central bank. China has increased its gold pile 10 times in the last 2 years,” he wrote in blog entry dedicated to the analysis of gold in the current macroeconomics.

“We have an incredible fiat money supply inflation of 10.5% per year, which is causing asset prices to skyrocket.”

Edwards suggested that the current asset bull market could follow in the footsteps of the greatest expansion periods of the 20th century.

“If so, we can expect the gold price to remain in the range of $12,000 to $23,000 over the next 3-8 years,” he concluded.