Is Bitcoin price going to crash again?

Bitcoin’s drop below $85,000 raises the risk of a correction to $50,000 especially if macro conditions keep boosting global demand for gold.

Bitcoin (BTC) price has rebounded by 14.60% after plunging below $75,000 for the first time in five months in April. However, its failure to break above the $85,000 resistance level decisively has sparked concerns that the ongoing recovery may trap bulls.

Gold’s rally may risk crashing Bitcoin below $50,000

Bitcoin could continue to underperform as Donald Trump’s intensifying global trade war drives investors toward safer assets like gold, according to Bloomberg’s Senior Commodity Strategist Mike McGlone.

McGlone argues that risk assets are showing signs of reverting to long-term means, mainly their 200-week moving averages that have historically served as critical floor during major price corrections.

As of April 20, Bitcoin’s 200-week moving average was around $46,300, down by about 45% compared to current price levels at around $85,000.

Meanwhile, gold has surged to a record high of $3,115 per ounce in April, up over 19% year-to-date. The precious metal continues to attract capital amid rising geopolitical tensions, recession fears, and tariff-driven inflation risks.

According to McGlone, this rotation into hard assets like gold and out-of-high-beta plays like crypto reflects a classic flight to safety.

The divergence between gold and Bitcoin is evident in institutional investment trends.

For instance, the ETFs backed by the precious metal have seen consistent inflows in 2025, attracting over $27.10 billion year-to-date, according to data resource World Gold Council.

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