Bitcoin in a deep bear market against gold, history suggests downside may persist

2026-01-22 17:46:05

Source: CryptoNewsNet Original Title: Bitcoin in a deep bear market against gold, history suggests downside may persist Original Link: Bitcoin’s positioning relative to gold continues to deteriorate, challenging the long held narrative of bitcoin as digital gold.

While gold pushes to fresh record highs just below $4,900 an ounce and is up roughly 12% year to date, bitcoin is only marginally positive on the year and remains below $89,000.

This divergence is also clear across longer time frames. On both one year and five year views, gold has delivered better returns. Over five years, bitcoin is up around 150%, while gold has risen approximately 160%.

The BTC to gold ratio currently sits near 18.46, firmly below its 200 week moving average (WMA), which reflects the long term trend based on nearly four years of price data. The 200WMA stands around 21.90, placing the ratio roughly 17% below the 200WMA.

BTC-0,98%

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.