Gold has slipped below its 200-day moving average, a key technical indicator, signaling potential weakening of long-term bullish momentum. This marks the first time since October 2023 that gold has traded below this level, with prices now under $4,300 per ounce. The decline follows a significant rally where gold surged nearly 200% to a record high of $5,600 in January, driven by concerns over fiat currency debasement. The recent drop in gold prices comes amid a stronger-than-expected U.S. jobs report, increasing the likelihood of Federal Reserve rate hikes. Meanwhile, the bitcoin-to-gold ratio has risen 3% in the past 24 hours, as bitcoin approaches $63,000, offering a glimmer of hope for bitcoin bulls. Despite the rebound, the ratio remains significantly below its December 2024 peak. Additionally, the US Dollar Index has climbed above 100, exerting pressure on commodities and cryptocurrencies.