🪙 Gold vs. Bitcoin: BTC Eyes $140K as XAUUSD Holds Key Support
Bitcoin (BTC) price may gain further support as Standard Chartered becomes the first global systemically important bank to offer spot crypto trading through its UK branch. This move reflects growing institutional interest and adds legitimacy to the market.
The ability for corporates and asset managers to access Bitcoin via a regulated platform boosts confidence and may attract new capital. As client demand increases and regulatory clarity improves, Bitcoin is likely to experience sustained upward momentum. The broader pro-crypto sentiment, including US political support and global banking adoption, strengthens the bullish outlook for bitcoin.
🥇 Gold-to-Bitcoin Ratio Signals Potential for BTC Outperformance
The gold-to-Bitcoin ratio indicates that it has formed strong resistance at the long-term descending channel and is continuing to decline. The recent surge in Bitcoin above $120,000 has pushed the gold-to-Bitcoin ratio down toward the 0.2 level. The key pivotal support lies at 0.026. A break below this level could trigger another strong surge in Bitcoin.
The Bitcoin-to-gold ratio shows that the recent surge in Bitcoin has pushed the ratio toward the 35 level. A break above the 40 area in the ratio will likely initiate another strong rally in Bitcoin prices. The emergence of bullish price action in this ratio suggests that a breakout is likely, which would be a strong bullish signal for Bitcoin.
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