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As bitcoin (btc) struggles in the middle of the last recoil of the cryptographic market, not decisively breaking the resistance of $ 84,000 – Gold (Xau) continues its impressive rally, raising to a record of $ 3,000 per ounce on March 14.
bitcoin is eclipsed by gold
2025 has begun with an unstable note for the largest cryptocurrency in the world. btc has dropped more than 10% in the year to date (YTD), falling from approximately $ 94,000 on January 1 to around $ 84,000 at the time of writing. On the other hand, gold has increased almost 13% in the same period.
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Northstar Market Analyst <a target="_blank" href="https://x.com/NorthstarCharts/status/1900211909850239056″ target=”_blank” rel=”nofollow”>shared Yesterday's next picture of x, which illustrates the btc-Gold relationship in the last 12 years. According to the graph, btc is beginning to break below a critical support line that has remained strong for more than a decade.
If bitcoin maintains the price action below this support line for several weeks or months, could indicate the end of crypto Bull's current execution. btc's low yield against gold is also evident in the capital flows contrasted in funds quoted in the stock market (ETF) of btc and Gold.
According data From the World Gold Council, the ETF of Gold Spot based in the United States have attracted tickets greater than $ 6 billion YTD. Worldwide, the ETF Spot Gold have seen more than $ 23 billion in tickets.
Meanwhile, <a target="_blank" href="https://sosovalue.com/assets/etf/us-btc-spot” target=”_blank” rel=”nofollow”>data Sosovalue indicates that the ETC spot with headquarters in the USA. UU. They have experienced almost $ 1.5 billion in net andtd outputs. This acute contrast in the capital movement reflects a change in the strategy of investors of risk assets to risks.
Several factors can explain the growing aversion of investors to risk assets, including the new commercial rates of the president of the United States, Donald Trump, the aggressive monetary policy of the United States Federal Reserve (Fed) and the recent defeat in the stock market.
Is the cryptographic bull attenuates?
btc's low performance in relation to gold throws doubts about the longevity of the current crypto market within reach. The total capitalization of crypto Market has thrown more than $ 600 billion since the beginning of the year, now at approximately $ 2.8 billion.
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The famous gold lawyer Peter Schiff argues that btc has already been in a bearish market for the past three years. In an x publication, Schiff <a target="_blank" href="https://x.com/PeterSchiff/status/1900500712661852369″ target=”_blank” rel=”nofollow”>fixed:
A bitcoin now buys 27.7 ounces of gold. At its peak in 2021, a bitcoin bought 36.3 ounces of gold. That means that in terms of gold, which is real money, the price of bitcoin has fallen by 24%. Then bitcoin has been in a stealthy bear market during the last three and a half years.
That said, positive macroeconomic developments could still change the course in favor of btc. For example, United States inflation appear Be cooling, which can press the Fed to turn towards quantitative flexibility and boost market liquidity, a possible blessing for risk assets.
In the same way, a break down In the US dollar index could rekindle optimism For assets such as actions and cryptocurrencies. At the time of the publication, btc quotes $ 84,902, 3.8% more in the last 24 hours.
Unspash's prominent image, x and TrainingView.com graphics
(Tagstotranslate) bitcoin (T) bitcoin Gold (T) btc (T) Btcusdt (T) Btcxau (T) crypto Bull Run
