Fidelity Warns Bitcoin May Need Rebalancing as Gold Rises

Fidelity Director of Global Macro Jurrien Timmer questioned whether Bitcoin’s recent surge to roughly $95,000 represents a durable uptrend or a countertrend bounce, noting that Bitcoin’s momentum curve is an extreme outlier versus historical norms and that futures open interest and ETF inflows have cooled—signals he says could imply a market ‘rebalancing’ is needed ^[1][3].

Timmer and other market observers contrasted Bitcoin’s volatile price action with gold’s steady advance, arguing gold remains a reliable hedge; meanwhile, asset managers are exploring products that pair the two assets—Ambcrypto details Bitwise’s Bitcoin‑gold ETF thesis and its bet on a so‑called ‘debasement trade’ that combines exposure to both stores of value ^[1][2].

Commentary from market outlets highlights that Bitcoin may be at a crossroads: analysts outline scenarios under which a rebound could occur if technical indicators and flows shift, but there is no consensus on timing or certainty ^[4].

Fidelity’s view emphasizes monitoring institutional metrics—futures open interest and ETF flows—as key indicators of whether Bitcoin requires rebalancing, while interest in gold-linked strategies has grown amid the divergence ^[1].