Market News: Bitcoin Surpasses Gold as US-China Trade Agreement Sparks Risk Rally: The Chart Indicates More Gains to Come.
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The BTC-to-Gold Ratio Breaks Bullish Pattern as Global Trade Optimism Shifts Momentum Towards Cryptocurrencies and Stocks
Bitcoin (BTC) continues to outperform gold (XAU) as easing trade tensions between the US and China trigger broader risk sentiment in global markets. According to a recent technical analysis, the BTC-to-Gold ratio has broken out of an inverted head and shoulders bullish pattern, signaling greater potential for Bitcoin relative to the yellow metal.
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Key Points:
The BTC-to-Gold ratio breaks above the inverted head and shoulders level at 32.00, targeting 35.00
Bitcoin rose ~19% in the last 2 weeks compared to an 8% drop in gold
Technical breakout signals indicate a shift in momentum from defensive assets to risk assets
US and China agree to reduce tariffs, boosting macroeconomic optimism
Traders expect cryptocurrencies and stocks to outperform safe-haven assets.