CoinDesk
Bitcoin's three-month uptrend against gold has snapped, with the BTC-to-gold ratio reversing sharply after climbing from roughly 12 points to 18 points since early March. In technical analysis terms, a decisive break of a multi-month trendline is a significant signal — and this one points squarely toward renewed momentum in gold's favour.
The flow data backs it up. Bitcoin ETFs have shed over $2 billion in two weeks as Treasury yields harden and the higher-for-longer rate narrative reasserts itself. Gold and precious metal ETFs, meanwhile, pulled in $2.34 billion in the week ended May 20 alone — their second consecutive week of net inflows, according to LSEG Lipper data cited by Reuters.
The macro backdrop explains the rotation.
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