Bitcoin-to-gold ratio breaks 12-year support as gold price hits a record $3K
Bitcoin is in the process of breaking its multiyear uptrend against gold, mirroring the March 2021–March 2022 fractal, suggesting BTC price could drop below $65,000.
Bitcoin (BTC) breached a rising support trendline against gold (XAU), which has been intact for over 12 years, on March 14.
XAU/BTC ratio weekly performance chart. Source: TradingView/NorthStar
Popular analyst NorthStar says this breakdown could spell the end of Bitcoin’s 12-year bull run if it stays under the gold trendline for even a week or—worse—a month.
