Veteran trader says gold may outshine Bitcoin

Veteran trader Peter Brandt is taking a harder look at gold, and his latest view lands as a reality check for Bitcoin bulls.Brandt, who has spent five decades reading market charts, said he is considering selling part of his Bitcoin (BTC-USD) holdings to buy physical gold instead. His argument is simple: the momentum that helped Bitcoin dominate gold for years appears to be weakening.Brandt's call carries weight because he is not new to this debate. He is a veteran trader with about five decades of charting experience, and his view is rooted in relative strength rather than sentiment. That makes his gold-over-Bitcoin lean harder for crypto bulls to dismiss.Bitcoin has fallen nearly 28% year-to-date, while gold is down only about 3.9%, according to the TipRanks report. Brandt pointed to the XAU/BTC chart, which tracks gold against Bitcoin, and said it is starting to curl higher after more than a decade of Bitcoin outperformance.That matters because many crypto investors have been waiting for a great rotation out of gold and into digital assets. Brandt sees the risk moving the other way, with gold potentially reclaiming safe-haven appeal as Bitcoin struggles.As of July 6, 2026, Bitcoin was trading near $46,400, while gold was holding around $4,160 an ounce. For Brandt, the message is not that Bitcoin is finished, but that gold may finally be gaining the upper hand.