As gold and the NASDAQ surge to new heights, Bitcoin has lagged behind, prompting debate about whether it’s losing its allure or merely preparing for a major leap forward. 70% down from its highs, BTC trades around $107,000 after volatile weeks, with its market cap still above $2 trillion. Yet, traders are uneasy as price action lags behind the bullish performance of traditional assets. Veteran gold supporter Peter Schiff seized this moment to reassert his longstanding criticism of Bitcoin’s value. He argues that its current rally depends on speculative enthusiasm rather than tangible worth, a stark contrast to gold’s perceived stability. However, Bitcoin enthusiasts counter this view, emphasizing the network’s fixed supply cap and decentralized infrastructure as reasons for their growing confidence in its potential as an alternative to government-backed currencies. They see the recent weakness not as a sign of vulnerability but a natural reset before the next major surge. 70% down from its highs, Bitcoin trades around $107,000 after volatile weeks. 18% and 42% above their respective January highs, respectively, while the NASDAQ and gold have witnessed a dramatic rally since Trump’s inauguration. Why hasn’t Bitcoin made progress despite the rise in both risk-on and risk-off assets? Skeptics are questioning if the market has lost its momentum. While some argue that Bitcoin’s lull is a sign of weakness, others see it as a crucial period for the coin to reset before a major breakout, potentially shaping the future of digital currencies. A wave of uncertainty surrounds Bitcoin right now as experts have noted an unusually calm spell in the crypto market. Crypto Rover highlighted the coin’s 180-day volatility index has dropped to levels not seen in over a decade. This signifies that traders are holding back, waiting for a directional spark. Historically, such low-volatility phases often lead to powerful price movements. The cycle perspective suggests Bitcoin follows its historic four-year rhythm and could mirror previous mid-cycle corrections like those witnessed in 2015, 2019, and 2020. While the market waits for a definitive breakthrough, this article serves as a point of reference for anyone seeking to understand the dynamics driving Bitcoin’s current trajectory.