According to market veteran Peter Brandt, Bitcoin's performance relative to Gold has reached a critical point. His analysis of the Bitcoin/Gold ratio shows that Bitcoin is testing the 36 to 37.1 ounce level, which has proven to be a significant resistance zone. After a breakout from a falling channel, Bitcoin reached an all-time high of 37 XAU in March 2021, establishing its dominance over Gold. However, a correction occurred, and Bitcoin is now facing resistance at the important 36 to 37 oz mark. A decisive breach could indicate further upside potential, but if the resistance holds, Bitcoin may enter a consolidation phase. Additionally, Bloomberg's Senior Commodity Strategist, Mike McGlone, discusses the correlation between Bitcoin, Gold, and the broader market. He highlights the proliferation of stablecoins like Tether, which suggests increasing dollar dominance, potentially impacting commodities and Gold.



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