In the ever-evolving world of cryptocurrencies, the debate over Bitcoin’s long-term viability and strategic investment potential remains as heated as ever. Recent developments have seen prominent figures like Peter Schiff and Michael Saylor at the forefront, as analysts weigh in on Bitcoin’s market movements and the implications for investors.
Bitcoin’s Market Structure: A Slow and Steady Ascent?
Bitcoin enthusiasts and investors have long been captivated by the cryptocurrency’s volatile nature and its potential for substantial returns. CoinDesk Senior Analyst James van Straten recently offered insights into Bitcoin’s current market structure, suggesting that it has shifted in tandem with gold’s repricing. Van Straten anticipates a “slow, stair-step advance” for Bitcoin, much like gold’s performance in the early 2000s. This means investors might witness a gradual upward trend punctuated by 10–20% pullbacks—a pattern not unfamiliar to seasoned gold investors.
According to van Straten, Bitcoin’s trajectory could sometimes lag behind gold, even as it occasionally outperforms it. However, he remains confident that Bitcoin will lead in total returns over a full market cycle. This perspective echoes the sentiments of many who view Bitcoin as a long-term investment, despite its short-term fluctuations.
Key Levels to Watch: $107K and $112K
Michaël van de Poppe, another prominent analyst, has zeroed in on Bitcoin’s near-term levels. He identifies sub-$107,000 as a prime “buy zone,” suggesting that this is where dip buyers are likely to enter the market. On the flip side, he designates $112,000 as a critical ceiling. A decisive break and hold above this level, particularly on UTC closes, is seen as a confirmation of Bitcoin’s strength. Such a move could broaden risk appetite and prompt a flow of investments into large altcoins—a shift referred to as entering “altcoin mode.”
As of late September, Bitcoin’s price hovered around $109,724, positioned between support at ~$109,400 and resistance at ~$109,750. A breach above this resistance could pave the way for further gains, potentially targeting the $110,000–$111,000 range, with $112,000 serving as the broader momentum trigger.
The Gold vs. Bitcoin Debate: Schiff Challenges Saylor
While analysts focus on technical levels and market movements, the ideological battle between Bitcoin and gold continues. Euro Capital CEO Peter Schiff, a known gold advocate, has reignited this debate by challenging Michael Saylor’s Bitcoin-centric strategy for his firm.
Schiff’s primary argument revolves around liquidity. He claims that tens of billions of dollars in gold can be sold with minimal market impact, whereas exiting a similar position in Bitcoin could significantly affect prices and trigger panic selling. Bitcoin supporters counter that large sellers can strategically exit positions over time using over-the-counter channels, but Schiff maintains that gold’s market depth provides greater flexibility for substantial holders.
Analyzing the Current Market: Consolidation and Potential Breakouts
The recent analysis from CoinDesk Research provides a snapshot of Bitcoin’s current market behavior. On the technical front, Bitcoin consolidated within a narrow range, with support and resistance levels clearly defined. The market action between September 27 and 28 saw Bitcoin’s price oscillate between $109,156.82 and $109,849.28, with repeated support near $109,400 and resistance capping rebounds at ~$109,750.
Looking ahead, analysts highlight the importance of key levels. A break above ~$109,750 could lead to a test of the $110,000–$111,000 area, with $112,000 being a crucial level for reigniting upward momentum. Conversely, a slip below ~$109,400 might prompt a retest of lower support levels, potentially down to ~$109,150 or ~$108,500.
In the broader context, Bitcoin’s price action since mid-September has seen it compress into the $109,000–$112,000 range, following highs near ~$117,000. Should Bitcoin reclaim and sustain $112,000, it could signal renewed upside momentum, although sideways consolidation remains the base case in the absence of such a breakout.
Conclusion: Navigating Uncertainty and Opportunity
As Bitcoin continues its journey through the fluctuating waters of the financial markets, investors are keenly watching for signs of strength or potential pitfalls. Analysts like van Straten and van de Poppe provide valuable guidance on key levels and market dynamics, helping traders make informed decisions.
Meanwhile, the philosophical debate between gold and Bitcoin lingers, with figures like Schiff and Saylor representing the divergent views. This ongoing discourse underscores the broader question of digital versus traditional assets—a conversation that will likely persist as the cryptocurrency landscape evolves.
For investors, the current environment presents both challenges and opportunities. Those willing to navigate the intricacies of Bitcoin’s market will need to remain vigilant, adaptable, and informed, as they seek to capitalize on the potential rewards that digital assets offer.
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
