Bitcoin Seen Outpacing Gold in Rally

Katie Stockton, founder of Fairlead Strategies, believes Bitcoin has more room to run compared to gold. She points out that Bitcoin's longer-term oversold reading followed a more prolonged decline, giving it more time to complete a proper base.

Stockton notes that gold's drop was shorter, leaving less room for its rebound to extend. This timing gap is the core of her call. According to Stockton, BTC has not become overbought yet but has strong short-term momentum and improved intermediate-term momentum now off these lows.

The digital asset cleared its 200-day moving average, a level that Stockton called an almost precise hurdle back in May. A basing phase started in June, with the retest coming in July, and a breakout is now underway. The immediate follow-through after the breakout helps confirm it.