Gold price crash unsettles investors – is the rally already over?

The price of gold has experienced an unprecedented rally in recent weeks, reaching a new all-time high of approximately $4,381 per troy ounce in mid-October 2025. But the high was followed by the inevitable crash: Within a short period of time, the price fell back to just over $4,000. The obvious question is: is the precious metal now overvalued?
More than 6,000 BTC-ECHO readers participated in the weekly survey on this question. The results: 53 percent consider the current gold price excessive, 41 percent see it as justified, and 6 percent remained undecided.
While gold has been shining recently, Bitcoin fell short of expectations given what was actually a statistically strong trading month in “Uptober.” The cryptocurrency, often referred to as the digital equivalent of gold, gained only 19 percent in 2025. Recently, however, the picture reversed slightly: The price of gold fell – and Bitcoin rose.
The research team at asset manager Bitwise sees this development as a possible signal of a market shift. “A key catalyst for a rapid Bitcoin recovery in the coming months could be a capital rotation from gold to Bitcoin,” the analysts write. The yellow metal has benefited this year primarily from expectations of looser monetary policy and growing concerns about the US national debt – factors that could now also boost Bitcoin. Read more here: Is capital rotation from gold to Bitcoin now on the horizon?

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