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- Gate July 2025 Transparency Report:
Accelerating Leadership in the Global Crypto Landscape!
#GateTransparencyReport# - 📢 Gate Square Exclusive: #PUBLIC Creative Contest# Is Now Live!
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Bitcoin Faces Test Against Gold’s 2021 Highs - U.Today
In order to prove that, the cryptocurrency would have to remain above its 2021 high against gold
The new big trade?
As of now, Bitcoin is valued at approximately 35 ounces of gold. If Bitcoin falls below that level, it will signal more weakness
In fact, U.S. Treasury bonds (T-bonds) might emerge as the next big trade. He has added that yields in China are now trading toward 1.75%. Hence, T-bonds might be a more attractive option
As reported by U.Today, McGlone previously predicted that the price of Bitcoin might collapse to $10,000
McGlone sticks with gold
McGlone has noted that he personally prefers gold over "digital gold" as of now
On Aug. 14, Bitcoin briefly peaked at 36.9 ounces on Aug. 14 before paring some of its recent gains
In mid-April, the Bitcoin/XAUT pair collapsed to just 24.7 ounces, which remains the current 2025 low
Bitcoin is still down 0.41% against gold this year, which might be quite embarrassing for the holders of the leading cryptocurrency, considering that it has a much smaller market cap compared to the holders of the yellow metal.
As reported by U.Today, Fidelity's Jurrien Timmer previously predicted that Bitcoin might end up outperforming gold in the second half of the year. However, this prediction has not materialized yet as digital gold continues to lag behind its "safe haven" competitor.