Bitcoin slipped again, and the big-name bulls are talking. According to the ARK Invest team, the pullback after the rapid run is part of a broader picture that mixes gold, money supply, and investor flows. Markets are messed up now. That doesn’t mean long-term news is dead.
Cathie Wood’s Long View
Based on reports, Cathie Wood has been keeping a public bet, consistent in crypto for years, buying assets and shares in firms tied to digital tokens when prices are very low. His company took early positions in exchange operators and fintech companies that provide access to crypto.
Reports note ARK’s benchmarking activity and scenarios that place Bitcoin above current values in 2030 under certain acquisition assumptions. Those predictions are not promises. They are models with many moving parts.
Another important thing to note is that the correlation between the price of bitcoin and gold has been 0.14 since the beginning of 2020, and that the price of gold has led the last movement of two important bulls in the price of bitcoin in the last two major cycles.
— Cathie Wood (@CathieDWood) January 31, 2026
Gold and the Breakdown Trade
Reports say that ARK’s research director compared the market value of gold to the US M2 money supply and found readings at a level not seen since the 1930s and the same period as the 1980s.
That kind of extreme has historically preceded major changes in the value of gold. Some traders recall a 60% decline after the 1980 peak. Those are facts that deserve a second look. They don’t directly translate to Bitcoin predictions, however.
Bitcoin and gold do not always go hand in hand. Based on reports, the historical correlation was low – about 0.14 as of the beginning of 2020. That number means that daily price movements are rarely synchronized.
However, in previous major rallies, gold’s gains were followed by Bitcoin’s strong leg. In this case, the sequence is stopped. Precious metals jumped and then retreated sharply, but capital did not flow into crypto as much as some expected. That raises questions about who is moving the money and why.
Market Movements and What to Watch Next
Bitcoin fell to $78,150 at the time of this report. The top crypto asset has reached a level that many traders are watching closely after the flash crash last October. It is now more than 35% below the peak reached in Oct. 6, 2025, and volatility is high.
Different Roles, Different Clocks: ARK’s View on Bitcoin and Gold
Overall, ARK’s status remains unchanged. Reports indicate that the company still views Bitcoin as a long-term asset tied to adoption and network growth, even during a sharp downturn.
Gold, on the other hand, is seen as a sign of exhaustion after an excessive run accompanied by fear of liquidity. In ARK’s view, these two assets play different roles, move at different clocks, and should not be judged by short-term price action alone.
Featured image from Unsplash, chart from TradingView
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