TECHNICAL ANALYSIS: BTC to Cross Key Price Level Against Gold
Bitcoin Magazine TECHNICAL ANALYSIS: BTC to Cross Key Price Level Against Gold Bitcoin-gold correlation hits a 6-year high. Sean breaks down the BTC-gold ratio, higher lows since Feb, and why BTC is nearly positive against gold. This post TECHNICAL ANALYSIS: BTC to Cross Key Price Level Against Gol
Source: Bitcoin Magazine
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DW NOTE
Bitcoin at 17.9 ounces of gold means nothing if you ignore what gold has done. Gold is at $4,319 — up 24% year-to-date in a year when the Fed hiked rates and real yields turned positive. Bitcoin's "near-positive" performance against that backdrop isn't a bullish setup, it's a lagging indicator dressed up as correlation analysis.