Bitcoin-to-Gold Ratio more than halves between 2021 and 2023

Bitcoin-to-Gold ratio has more than halved over the past two years. Bitcoin is underperforming gold based on the 2023 ratio of 15 against its 2021 figure of 35. Fed's monetary tightening as a response to persistent inflation could propel Bitcoin's price higher. at gold has outperformed BTC but the impact of the Federal Reserve's monetary tightening, anticipation of the upcoming Bitcoin halving and the potential approval of a spot Bitcoin ETF could change that.

Crypto analyst Michaël van de Poppe said that Bitcoin could retest the $27,700 level but anticipates an uptick to $30,000 if Bitcoin surpasses the $28,800 mark. At the time of writing, Bitcoin is hovering under the $28,400 mark. #Bitcoin fighting crucial levels. A retest around $27,700 would still be possible, while Gold is continuing the upwards run. Above $28,800 and we'll be eager towards $30,000 in a matter of time. pic.twitter.

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