Gold is testing its key resistance level relative to the US M2 money supply, which last appeared in 2011 and has never been breached since the 1970s. This year, gold prices have soared by 70%, reaching about $4500 per ounce. In contrast, Bitcoin, often referred to as "digital gold," has dropped about 10% this year, returning to the support level touched in April. However, Bitcoin continues to set new highs relative to the money supply in each cycle, with its current support level marking the peak reached in the previous cycle in March 2024.