Gold Tests Key Resistance Level That Could Signal the Next Bullish Phase

Group 1: Gold Market Performance - Gold has become the world's first-ever $30 trillion asset, rising more than 60% year-to-date to approximately $4,340 per ounce [1] - Since its 2022 bottom, gold has gained roughly 150% against the M2 money supply, approaching historically significant levels last seen during the peaks of 2011 and 1974 [2] - The current rally in gold could suggest a nearing top, but it may also indicate that the bull market has further potential, as seen during the 1970s stagflationary cycle where gold surged an additional 180% against M2 before its peak [2] Group 2: Gold vs Bitcoin - Gold's outperformance extends beyond the money supply, with the gold/bitcoin ratio up around 50% year-to-date [3] - Bitcoin is currently priced at approximately 24 ounces per BTC, which is around 40% below its all-time high set in December 2024 [3] - Bitcoin's total market capitalization represents about 7% of gold's total market value [3] Group 3: Bitcoin Market Capitalization - Bitcoin is approaching a market cap of $2 trillion, corresponding to a price level of roughly $100,000, which aligns closely with its 365-day moving average [4] - The 365-day moving average helps identify long-term trends and potential support or resistance levels for Bitcoin [4]