diff --git a/src/rules.ts b/src/rules.ts
index 7e00f7000f..e2c4875497 100644
--- a/src/rules.ts
+++ b/src/rules.ts
@@ -267,7 +267,9 @@ const _punctuationOrSpaceGfmStrongEm = /(?!~)[\s\p{P}\p{S}]/u;
 const _notPunctuationOrSpaceGfmStrongEm = /(?:[^\s\p{P}\p{S}]|~)/u;
 
 // sequences em should skip over [title](link), `code`, <html>
-const blockSkip = /\[(?:[^\[\]`]|`[^`]*?`)*?\]\((?:\\[\s\S]|[^\\\(\)]|\((?:\\[\s\S]|[^\\\(\)])*\))*\)|`[^`]*?`|<(?! )[^<>]*?>/g;
+const blockSkip = edit(/\[(?:[^\[\]`]|`[^`]*?`)*?\]\((?:\\[\s\S]|[^\\\(\)]|\((?:\\[\s\S]|[^\\\(\)])*\))*\)|codePattern|<(?! )[^<>]*?>/, 'g')
+  .replace('codePattern', /(?<!`)(`+)[^`]+\1(?!`)/)
+  .getRegex();
 
 const emStrongLDelimCore = /^(?:\*+(?:((?!\*)punct)|[^\s*]))|^_+(?:((?!_)punct)|([^\s_]))/;
 
diff --git a/test/specs/new/issue_3776_backtick_precedence.html b/test/specs/new/issue_3776_backtick_precedence.html
new file mode 100644
index 0000000000..e8928e1f67
--- /dev/null
+++ b/test/specs/new/issue_3776_backtick_precedence.html
@@ -0,0 +1,9 @@
+<p>**You might think this should be bold, but: <code>**</code></p>
+<p>**You might think this should be bold, but: <code>**</code></p>
+<p>**You might think this should be bold, but: <code>**</code></p>
+<p>**You might think this should be bold, but: <code>**</code></p>
+<p><strong>This should be bold</strong> and <code>this should be code</code></p>
+<p><strong>start <code>contains **</code> end</strong></p>
+<p><strong>This should be bold ``</strong>`</p>
+<p><strong>This should be bold `</strong>``</p>
+<p><strong>start <code>contains **</code> end</strong></p>
\ No newline at end of file
diff --git a/test/specs/new/issue_3776_backtick_precedence.md b/test/specs/new/issue_3776_backtick_precedence.md
new file mode 100644
index 0000000000..2db6949a93
--- /dev/null
+++ b/test/specs/new/issue_3776_backtick_precedence.md
@@ -0,0 +1,17 @@
+**You might think this should be bold, but: `**`
+
+**You might think this should be bold, but: ``**``
+
+**You might think this should be bold, but: ```**```
+
+**You might think this should be bold, but: ````**````
+
+**This should be bold** and `this should be code`
+
+**start `contains **` end**
+
+**This should be bold ``**`
+
+**This should be bold `**``
+
+**start ``contains **`` end**
\ No newline at end of file
