At this moment, I still favor Bitcoin over gold, and its relative price remains stable even as both assets experience a downturn. https://t.co/1JKztVyqjd
— Jurrien Timmer (@TimmerFidelity) November 7, 2026
These remarks come after a previous tweet from Timmer, where he acknowledged the increasing correlation between Bitcoin, gold, and traditional stock markets.
Timmer noted that Bitcoin and gold have become more closely aligned with equities in recent weeks, participating in the broader market’s movement towards risk aversion.
“Regrettably, gold and Bitcoin have recently shown a stronger correlation to equities and have joined the risk-off sentiment of late. Currently, both assets are exhibiting a 60-70% correlation with the S&P 500,” Timmer elaborated in another tweet.
His preference for Bitcoin seems reasonable, as he suggested in mid-October 2024 that a new four-year bullish cycle for Bitcoin might be starting.
“Regarding Bitcoin? We might be entering a new four-year bullish cycle, supported by its power law patterns. There’s no clear narrative yet, but typically, bull markets don’t kick off with an obvious story,” Timmer added.
Current Bitcoin Price Decline
The cryptocurrency market displayed mixed results early Saturday, with Bitcoin slightly decreasing by 0.08% over the past 24 hours, dipping to $75,904. This comes as investors react to a surprisingly strong jobs report, which bolstered expectations for a potential rate cut at the upcoming Federal Reserve meeting.
The unemployment rate unexpectedly dropped to 4.1%. This robust performance makes a December policy decision more likely, as markets continue to anticipate further rate adjustments this year. Futures for Fed funds are now indicating over a 77% probability of a quarter-point shift at the December 9 meeting, an increase from the prior day’s 66% estimate.
However, the upcoming inflation data and the trajectory of the stock market may play a more critical role. Next week’s Consumer Price Index (CPI) and Producer Price Index (PPI) reports will likely weigh heavily in the Federal Reserve’s decision, along with the stability of the equities market.