Gold has regained strength against Bitcoin, with the Bitcoin/Gold ratio decreasing from 50 to approximately 30. Gold futures reached a record high near $4,130 per ounce, while Bitcoin's price dropped below $111,000 after failing to sustain a move towards $124,000. Bloomberg strategist Mike McGlone suggests this trend may indicate a broader market reset, as investors reassess their risk exposure and liquidity needs. The largest gold ETF, GLD, recorded $12.5 billion in trades, highlighting significant institutional and retail interest in gold.
Gold Outshines Bitcoin as Bitcoin/Gold Ratio Declines to 30
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