Bitcoin's price relative to gold has declined to 25 ounces, reaching a significant horizontal support level. This drop has brought the Bitcoin/gold ratio below an ascending trendline established since early 2023, though a confirmed breakdown has not yet occurred. Analysts note that the Stochastic RSI indicators on both weekly and bi-weekly charts suggest the correction may continue, but a potential rebound could occur if the 25-ounce support holds. Additionally, the price is supported by the 0.5 Fibonacci level, which coincides with the 25-ounce mark.
Bitcoin's Gold Ratio Falls to 25 Ounces, Analysts Eye Key Support
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