Bitcoin faces a crucial test against gold: it must stay above its 2021 high of 35 ounces of gold to prove that it is an independent asset and not just "the last great speculative trade."
• Bloomberg strategist Mike McGlone prefers gold over "digital gold" and warns that if Bitcoin falls below that level, it could show more weakness 🔻.
• In April, the Bitcoin/Gold ratio dropped to just 24.7 ounces, the lowest since 2025. Although Bitcoin rebounded to 36.9 ounces on August 14, it is still down 0.41% against gold this year📉.
• According to McGlone, U.S. Treasury bonds could be the next trend among investors, as yields in China fell to 1.75%📊.
• Fidelity's prediction that Bitcoin would surpass gold in the second half of the year has not yet come true 🥈.
What’s next for Bitcoin? Will it be able to break away from gold and demonstrate strength, or will we see a shift in trend towards bonds? 👀🚀📊
