Strive CEO: Bitcoin Bear Market Over as BTC Breaks Out Against Gold and Dollar
Strive CEO Matt Cole believes the bear market for Bitcoin (BTC) is over. He points to recent price action as evidence, specifically the breakouts against both gold and the dollar.
Cole said on X that bitcoin's relative move against gold has been a leading indicator of trend shifts earlier than the dollar-based price. According to him, past patterns show that bitcoin formed highs and lows first when measured against gold before the dollar-based prices.
Bitcoin first formed a high in December 2024 against gold, with the dollar-based high appearing about 10 months later in October 2025. In contrast, during the latest downtrend, the pattern moved in the opposite direction: bitcoin's gold-based price bottomed first in February 2026, and the dollar-based price formed a low 5 months later in July.
Cole believes that this time gap is significant and suggests that the bear market may be over. He also mentioned the macroeconomic environment as a potential driver of Bitcoin strength, including the possibility that the DXY could enter a long-term cyclical downtrend.