Delphi Digital: Bitcoin May Face a Liquidity Turning Point, Gold Completes Repricing Within the Loose Cycle

Odaily News According to a post on X by digital asset market research firm Delphi Digital, gold prices have risen by 120% since the beginning of 2024, marking one of the strongest gains in history. This rally has occurred without an economic recession, quantitative easing, or a financial crisis. Central banks purchased over 600 tons of gold in 2025, with purchases expected to reach 840 tons in 2026.

Historically, gold has led Bitcoin by approximately three months at liquidity turning points, making this trend significant for cryptocurrencies. Currently, gold has completed its repricing within the loose cycle, while Bitcoin sentiment remains influenced by previous cycle patterns and recent pullbacks. The performance of precious metal assets is signaling policy easing and fiscal dominance. When precious metals outperform stocks, the market is pricing in currency depreciation rather than a growth collapse. Volatility in the precious metals market could be a signal for the subsequent performance of other risk assets.