Gold (XAU) confirms its status as a safe garden active in the middle of the ongoing fear of a US-led trade war while Bitcoin (BTC) is struggling to gather upside down. The dynamics drive the Bitcoin gold ratio lower.
Relationship between Bitcoin’s USD prize and Gold’s per Ounce dollar price has fallen to 34, the lowest since November 14, almost tested the previous top hit in March 2024, data from Kortplatform TradingView show. It has fallen 15.4%since it hit a top over 40 in mid -December.
Gold’s increase in the previous year of almost 10% at a record price per year. Ounce of $ 2,877 has been driven by a safe port demand in the middle of the escalating trade war in the US China, according to Reuters.
The tariff threat has dedicated metal products Comex Futures prices, which act significantly above the spot price in recent months. It has dealers loading American bound aircraft with the yellow metal. Investment bank giant JPMorgan is planning to deliver $ 4 billion gold gold to New York this month, according to The Guardian. Plus, the Chinese demand for gold has risen due to the Spring Festival holidays.
Meanwhile, influx to US-notified Spot Bitcoin (BTC) ETFs are primarily come from dealers participating in non-directional arbitrage bets at BTC, according to 10x research.
“The ETF purchase could be offset by simultaneous space or futures sale (settlement of long positions) that dampens any significant price impact,” said Markus Thielen, founder of 10x research, in a note to clients on Monday and noticed the $ 4 billion in influx in to The American spot-listed ETFs since the release of the inflation data three weeks ago.
