The price of Bitcoin has fallen by at least 1.9% in the last 30 days, while Gold has reached a new all-time high. This suggests a negative correlation between the two assets. CryptoQuant's Bull-Bear Market Cycle indicator and the MVRV ratio indicate that Bitcoin is currently in a bearish phase. A CryptoQuant report also shows that long-term Bitcoin holders are spending their holdings at lower profit margins. This data supports the idea that Bitcoin's price is likely to decline further. However, experts are still looking at Bitcoin price predictions to determine if the market will rebound soon. The negative correlation between Bitcoin and Gold may indicate investors switching to safer assets like Gold and abandoning riskier assets like Bitcoin. This trend could have a long-term impact on the crypto industry.
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