Katie Stockton, founder of Fairlead Strategies, stated that Bitcoin has more room to run than gold due to differences in how the two assets bottomed out. Speaking on CNBC’s “The Exchange” as Bitcoin extended a sharp recovery, Stockton noted that the digital asset is currently neither oversold nor overbought.
Stockton highlighted a basing phase that began in June, followed by a retest in July and a subsequent breakout. Bitcoin successfully cleared its 200-day moving average, a level she previously identified as a hurdle in May. She pointed to strong short-term momentum and improved intermediate-term momentum following the lows, adding that immediate follow-through after the breakout helps confirm the move.
In contrast, Stockton described gold's trajectory differently, explaining that the metal's intermediate-term downtrend started later than Bitcoin's and that its current bounce acts as a countertrend rally rather than a full trend reversal. While she expects gold to see further gains due to existing intermediate-term momentum, she anticipates that its advance will hit resistance sooner than Bitcoin's.
Stockton attributed the divergence to the duration of the preceding declines. Bitcoin experienced a more prolonged decline and a longer-term oversold reading, allowing it more time to complete a proper base. Gold's drop was shorter, leaving less room for its rebound to extend and making its advance look more like a pause within a longer corrective phase.
