BTC-to-gold ratio nears a 2019 style turning point after six red candles
CoinDesk
The bitcoin-to-gold ratio is showing similarities to a 2019 pattern after six months of underperformance against gold.Summary
Bitcoin is set to underperform gold for the sixth consecutive month, causing the bitcoin-to-gold ratio to drop 23% this month to 16.3, mirroring a pattern from 2019-2020. The ratio recently rebounded from a low of 15.5, which coincided with a sharp selloff in risk assets globally. Since its late 2024 peak, the ratio has declined about 60%, placing bitcoin in a technical bear market against gold for 14 months. However, even if the ratio has bottomed, this might only signal gold weakening faster than bitcoin, not necessarily a strong upside for BTC.
(Source：CoinDesk)