Core Viewpoint - Bitcoin is set to underperform gold for the sixth consecutive month as investors favor gold, traditionally viewed as a safe haven during economic and geopolitical instability [1] Group 1: Bitcoin Performance - The bitcoin-to-gold ratio has decreased by 23% this month, currently at 16.3 [2] - The decline in the bitcoin-to-gold ratio mirrors a similar trend observed in 2019, where bitcoin outperformed gold for five months following a similar pattern [2] - Bitcoin is currently priced around $82,000, reflecting a decline of just over 2% since midnight UTC, while gold has dropped more than 8% and silver approximately 16% [3] Group 2: Market Trends - The bitcoin-to-gold ratio has fallen by roughly 60% since its peak in late 2024, indicating that bitcoin has been in a technical bear market against gold for about 14 months [4] - A recent rebound in the ratio by 4% suggests potential signs of a market retrenchment, occurring after a significant selloff in global markets [3] - Even if the ratio has reached a low point, it does not guarantee a strong recovery for bitcoin, as it may indicate that gold is weakening at a faster rate than bitcoin [4]

🚨 INSIGHT: The Bitcoin-to-gold ratio slid 50% in 2025 as gold surged on record central-bank buying and ETF inflows while BTC demand softened amid ETF outflows and heavy long-term holder selling. https://t.co/KnB0l2s9IH ...

Core Insights - Bitcoin has surged 4.3% since Friday, driven by three significant catalysts [1] - The performance of the U.S. dollar against global securities is a major macro catalyst influencing Bitcoin's value [5][6] - Developments from a group of developers known as "Core" are enhancing Bitcoin's software capabilities, potentially increasing adoption [7] - The Bitcoin-to-gold ratio is a critical metric, with its recent decline suggesting a potential convergence that may strengthen Bitcoin's position as a safe haven asset [8] Macro Factors - The U.S. dollar's decline relative to global currencies is expected to increase Bitcoin's value over time [5] - Competing factors affecting the dollar include potential positive outcomes from China/U.S. talks and Federal Reserve interest rate cuts [6] Token-Specific Catalysts - The "Core" developers' plans to enhance Bitcoin's blockchain software could lead to increased real-world use cases and adoption [7] - The current state of the Bitcoin-to-gold ratio indicates a historical low, which may become relevant for investors seeking safe havens [8]