Bitcoin may well outperform both the Nasdaq and gold over the coming weeks, if a recovery rally in risk assets follows the recent correction, according to Nigel Green, CEO of deVere Group.
His assessment comes as cryptocurrencies slumped sharply on Monday, with Bitcoin falling as much as 6% and Ether tumbling more than 7%. This extends a weeks-long selloff that began in early October when around $19-billion of leveraged crypto positions were wiped out.
The leading cryptocurrency has now fallen roughly 30% from its 7 October 2025 peak near $124 000 to around $87 000, a far steeper adjustment than seen across traditional markets.
Over the same period, the Nasdaq 100 has slipped about 4% from its record high, while gold has also retreated by a similar margin from its mid-October peak.
Green says the scale of the correction is exactly why Bitcoin’s rebound potential stands out.
“Bitcoin has already been hit with a far more aggressive reset than equities or gold,” he says. “This matters, because when risk appetite improves, the assets that have corrected the most tend to respond first and fastest.
“Bitcoin has increasingly behaved as a leading indicator for broader risk assets, particularly US technology stocks,” he adds.
“In recent months, moves in the Nasdaq have been reflected in Bitcoin’s price action, but with significantly greater amplitude on both the upside and the downside.
“Bitcoin has mirrored the Nasdaw, only in exaggerated form. A 4% pullback in tech translated into a near 30% adjustment in Bitcoin. The relationship tells you where sensitivity to risk really sits.”
The recent selloff was intensified by forced liquidations as leveraged positions unwound rapidly. Data from derivatives markets shows open interest falling sharply during the first half of October, signaling a substantial reduction in speculative excess.
Green explains that this kind of leverage flush has historically marked turning points rather than the start of prolonged weakness.
“Corrections driven by deleveraging are uncomfortable but constructive,” he says. “They clear the market, reduce fragility and reset positioning in a way that allows genuine demand to reassert itself.”
Broader macro trends are also becoming more supportive, he believes. US bond yields, which surged earlier in the quarter, have stabilised. Expectations for financial conditions into year-end have eased, and investors are once again debating the timing and scale of future Federal Reserve policy adjustments as growth slows without collapsing.
“When macro pressure eases even slightly, Bitcoin tends to react aggressively,” says Green. “It doesn’t need a perfect environment. It needs a shift from fear toward selective risk-taking.”
He contrasts Bitcoin’s setup with that of gold, which has benefited from hedging demand during the correction but may lag once confidence starts to rebuild.
“Gold performs its role during uncertainty, but in a recovery phase capital looks for upside, not shelter,” he comments. “Bitcoin sits much closer to growth assets in that context, yet it carries a scarcity narrative that neither tech stocks nor gold can fully replicate.”
Green also points to structural signals within the Bitcoin market itself. Exchange balances remain near multi-year lows, suggesting reduced immediate selling pressure, while long-term holders have remained largely intact despite the volatility.
Institutional participation continues through regulated investment vehicles, reinforcing the view that the asset class retains strategic relevance beyond short-term price swings.
“This market is being recalibrated by volatility, not abandoned,” he says. “The underlying architecture of demand is still there.”
Technical levels are now acting as a focal point for traders assessing the next move, he says, with Bitcoin holding well above major long-term averages despite the sharp drawdown.
Green says this strengthens the asymmetry for investors willing to tolerate volatility.
“Bitcoin has already done more of the heavy lifting on the downside than the Nasdaq or gold,” he concludes. “When risk assets stage a recovery rally after this correction, Bitcoin has a strong case to outperform both in the weeks ahead.”