$BTC is buying a lot more gold than it was a month ago.
The BTC/Gold ratio has climbed to 18.55 ounces per BTC, up from roughly 15.3 a month ago, a 21% jump in Bitcoin’s purchasing power against gold.
More importantly, the ratio has reclaimed its 50-week moving average.
That puts BTC back above a long-term level that traders will be watching closely, especially after the ratio spent recent weeks below it.
The BTC/Gold ratio has climbed to 18.55 ounces per BTC, up from roughly 15.3 a month ago, a 21% jump in Bitcoin’s purchasing power against gold.
More importantly, the ratio has reclaimed its 50-week moving average.
That puts BTC back above a long-term level that traders will be watching closely, especially after the ratio spent recent weeks below it.
