Legendary trader Peter Brandt considers "selling Bitcoin to switch to gold": XAU/BTC shows a double bottom pattern

A legendary veteran with half a century of trading experience fires the first bearish shot? Peter Brandt, a legendary Wall Street trader known for classical technical analysis, shocked the market on July 5 by posting that he is considering "selling Bitcoin and switching to gold." Through a long-term XAU/BTC chart, he pointed out that the gold-to-bitcoin ratio has formed a clear bottom pattern, predicting that gold will significantly outperform Bitcoin in the future.
(Previous recap: Strategy’s largest Bitcoin sell-off in history! BTC still holds above $63k)
(Background: Trump hints that "Trump Account" may include Bitcoin! BTC faces the strongest moat?)

Amid the battle between bulls and bears in the crypto market, a legendary trader who has witnessed half a century of Wall Street storms has thrown out a view that hardcore Bitcoin believers find hard to accept: now might be the best time to swap some Bitcoin for physical gold.

On July 5, 2026, Peter L. Brandt (@PeterLBrandt), a legendary American futures trader with over 1.15 million followers, posted a long-term chart on X platform and surprisingly said:

“I am considering selling some of my Bitcoin and going to Gold with the money. It looks to me that Gold is going to gain substantially on Bitcoin ($XAUBTC).”

I am contemplating selling some of my Bitcoin and going to Gold with the money.
Looks to me that Gold is going to gain substantially on Bitcoin $XAUBTC pic.twitter.com/m4EUqkbh5j

— The Factor Report (@PeterLBrandt) July 5, 2026

Classical chart master finds clues: Gold is forming a "double bottom" against Bitcoin

Peter Brandt is not shooting from the hip. As a "Market Wizard" who has been active at the Chicago Mercantile Exchange since the 1970s and boasts an impressive annualized compound return rate of 41.6%, his specialty is relying purely on price patterns and trend lines for "Classical Chart Patterns" without complex indicators.

In his post, he attached a long-term monthly chart of XAU/BTC (gold/bitcoin ratio) spanning from 2010 to 2030. The chart reveals the following key technical signals:

| Technical Analysis Dimension |
| --- |
Chart Status |
Brandt’s Market Interpretation |
| --- | --- | --- |
| Long-term Macro Trend |
In a severe downtrend since its 2010 peak. |
This reflects Bitcoin’s asset appreciation power completely crushing physical gold over the past decade. |
| Recent Bottom Pattern |
A basin bottoming pattern and double-bottom structure. |
The long-term downtrend is about to end. The ratio is currently bottoming out near 0.067, signaling an imminent reversal. |
| Short-term Breakout Signal |
SMA moving averages are converging, with a small bull flag pattern. |
This is a classic chart signal suggesting capital may rotate from BTC to gold as a safe haven. |

360k views! Crypto believers shout: Selling now is too late

The remarks of this veteran, who authored the bestseller The Diary of a Professional Commodity Trader, immediately sent shockwaves through the crypto community. The post quickly garnered over 360k views and more than 2,300 likes, accumulating over 350 heated replies.

Most Bitcoin maxis expressed strong opposition and bewilderment, urging this "old-timer" in the crypto circle not to act impulsively. The comment section was filled with polarized voices: "This chart is still in a downtrend over the long term!" "Bitcoin is about to see a major rebound, selling now is way too late." But some traders who respect technical analysis agreed, arguing that amid high macroeconomic uncertainty, taking partial profits and adhering to strict risk management is key to long-term survival in the market.