Binance News
--
Bitcoin to Gold Drops to 20 Ounces, Analysts Say Bull or Bear Market Boundary
According to Cointelegraph, the Bitcoin (BTC) to gold ratio has dropped to 20 ounces, the first time since early 2024. Analysts point out that this marks the boundary between bull and bear markets.
Cryptocurrency trader Michaël van de Poppe predicts that Bitcoin will see more upward potential. He believes that gold is overvalued while Bitcoin is undervalued.
Historical data shows that during each Bitcoin bear market cycle, the weekly relative strength index (RSI) falls into the 'oversold' territory, marking a long-term bottom.
The trading account Wealthmanager indicates that the last Bitcoin bear market began when BTC/XAU failed to maintain the 20-ounce support level, and a breakout may occur in the coming weeks.
Cryptocurrency trader Michaël van de Poppe predicts that Bitcoin will see more upward potential. He believes that gold is overvalued while Bitcoin is undervalued.
Historical data shows that during each Bitcoin bear market cycle, the weekly relative strength index (RSI) falls into the 'oversold' territory, marking a long-term bottom.
The trading account Wealthmanager indicates that the last Bitcoin bear market began when BTC/XAU failed to maintain the 20-ounce support level, and a breakout may occur in the coming weeks.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
88,379.28
+0.09%
XAUUSDT
Perp
4,342.28
-0.00%