All right, gold and silver both pacing for their best week in five years. For more on that recent rally and his outlook for the precious metals, we want to bring in Don Striven. He is co-head of global commodities research at Goldman Sachs.And Don, you recently brought up your price target for gold, the gold, the price you expect by December of next year. Um, what' you say. 4,900 instead of the 4,300 that you'd been at previously.What what made you say aside from just watching how quickly things were runnin ...

Group 1: Market Performance - Bitcoin reached a new all-time high of $126,000 on October 6, while gold hit a new all-time high of $4,070 just two days later, with gold up 52% year-to-date compared to Bitcoin's 32% [2][3] - Gold's market cap stands at over $27 trillion, significantly larger than Bitcoin's $2.6 trillion market cap, indicating that gold is over 10 times the size of Bitcoin [3] Group 2: Drivers of Performance - Bitcoin's recent surge is attributed to $5.3 billion in ETF inflows, with IBIT becoming the top ETF [3] - Gold benefits from safe-haven demand, rate-cut expectations, and significant purchases by central banks, particularly from China and BRICS nations, which have been buying approximately 1,000 tonnes per year [8] Group 3: ETF Activity - Spot Bitcoin ETF inflows reached $1.2 billion on a recent Monday, marking the second-highest inflow day, indicating strong demand from rules-driven buyers [6] - The tightening float of Bitcoin, with exchange balances at multi-year lows, suggests that new ETF demand could have a pronounced impact on prices [6] Group 4: Macro Factors - Softer economic data and rising expectations for rate cuts are contributing to a bullish outlook for Bitcoin, alongside traditional seasonal trends in October [7] - Anticipated Federal Reserve cuts, a weaker dollar, and macro-political anxieties are driving flows into gold, reinforcing its demand [8]

Core Insights - Bitcoin is currently trading above $123,000, driven by ETF inflows and mid-tier accumulation, indicating a strong bullish sentiment in the market [2][8] - Analysts highlight a structural bullish market with signs of froth on top, suggesting that while there is strong underlying support, the market may be crowded [4][6] - There are concerns about market complacency, with record high futures open interest and elevated funding rates, indicating potential vulnerability to a sharp decline if momentum fades [5][6] Market Dynamics - Capital is rotating from overextended AI equities into "credibility hedges" like gold and Bitcoin as policy uncertainty increases [3] - Record ETF inflows and mid-tier accumulation are flipping resistance into support, reinforcing the bullish outlook for Bitcoin [4] - The current market pullback is seen as a necessary reset of leverage, which could restore balance and prepare the market for further upward movement [6][7] Trading Sentiment - The market is characterized by high funding rates and increasing open interest, suggesting traders may soon experience the reset they have been anticipating [7] - The focus is on whether Bitcoin can maintain its position above $120,000, with the next dip potentially revealing the rally's strength or its fragility [7] - Institutional demand and the broader narrative of "debasement trade" are expected to sustain the upward trend as the market enters a seasonally bullish period in October [8]

Bitcoin is entering parabolic season 🚀Seasonality, ETF inflows, and on-chain metrics all agree 🤝CC: @nsquaredvalue https://t.co/pETz7BofkQ ...

Core Insights - Bitcoin's recent price surge to an all-time high near $126,000 is driven by institutional demand and steady on-chain accumulation rather than speculation [1] - Strong inflows into U.S. spot bitcoin ETFs, exceeding $2.2 billion in a single week, have reversed previous redemptions and absorbed available supply on exchanges [2] - The fourth quarter is historically favorable for bitcoin, with sustained ETF demand likely to support prices as year-end approaches [3] Institutional Demand - More than $2.2 billion flowed into U.S. spot bitcoin ETFs within a week, marking significant institutional buying activity [2] - Sustained ETF demand could anchor bitcoin prices as the year progresses [3] Accumulation Trends - Mid-tier holders (wallets with 10 to 1,000 BTC) have been the primary buyers, increasing their balances while larger holders have taken profits [4] - Nearly 97% of circulating bitcoin supply is currently in profit, indicating a late-stage bull cycle without signs of exhaustion [4] Price Support Levels - The $117,000–$120,000 price range is identified as a key area of on-chain support, where approximately 190,000 BTC were last transacted [5] Market Conditions - Market conditions are described as "robust but maturing," with rising futures open interest and funding rates indicating a buildup of leveraged long positions [6] - Realized profits remain controlled compared to previous market tops, suggesting a rotation of holdings rather than mass exits [6] Overall Market Structure - Bitcoin's market structure is considered sound, supported by institutional demand, deep liquidity, and broad-based accumulation [7] - Continued ETF inflows could extend bitcoin's rally into the fourth quarter, reinforcing its position as a structurally supported uptrend [7]

JUST IN: BlackRock's Bitcoin ETF is #1 in inflows this week with $3.5 BILLION10% of all net ETF inflows 🔥 https://t.co/3FInryWLLP ...

💥 JUST IN:BitWise CIO predicts $200,000 Bitcoin and record ETF inflows in Q4 2025"The debasement trade has become the hottest trade on Wall Street. I think that accelerates in Q4."(CoinDesk Media) https://t.co/F4udo5xwEq ...

Go through the price targets now for four year end of next year. We'll take from that. What are you looking for at the moment.Yes. So we have gold rising of 10% to 4300 by the end of by the end of next year, but with significant upside, both because the recent drivers of the rally are driven by the pretty sticky inflows from both central banks and ETF holders holdings. It's not driven by spec positioning, which tends to be more mean reverting.And second. In September we saw that ETF inflows were six times l ...

Standard Chartered’s Head of Digital Assets Research Geoffrey Kendrick reaffirmed his $200K year-end Bitcoin target, citing continued ETF inflows and a potential U.S. government shutdown as short-term bullish catalysts. He said Bitcoin could break its all-time high within days and reach $135K in the coming weeks, slightly later than his earlier projection.https://t.co/GByapRxXFe ...

Market Trend Prediction - JPMorgan analysts predict Bitcoin could reach $165,000 by the end of 2025 [1] - The prediction is based on Bitcoin's undervaluation compared to gold [1] - Rising ETF inflows are also a factor in the bullish outlook [1]