Bitcoin Rally Leaves Gold Behind
XAU/BTC
-1.60%
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BTC/USD
+3.16%
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As Powell’s press conference drove down bond yields on his statement about the upcoming tightening of conditions (reducing the need for further hikes), Bitcoin rallied higher alongside equities. Now that the Bitcoin/Gold ratio is well above 16 (17.9) the highest since May 2022, the implications for further run-up are enormous. If you take a closer look at last week’s video about the importance of the 16.0 Ratio, you will appreciate its historical effectiveness regarding Bitcoin’s inflection points (upside and downside).
BTC/Gold Ratio Chart
Here’s the video again illustrating the inflection points since autumn 2020
