Gold Surges in 2025 as Bitcoin-Gold Ratio Hints at Q4 Breakout
Gold is the standout performer of 2025, rising over 33%, outpacing the Nasdaq 100 by threefold and nearly doubling bitcoin’s (BTC) gains. The BTC-XAU ratio, which tracks how many ounces of gold are required to purchase one bitcoin, has fallen to 31.2 ounces from 40 ounces in December, highlighting gold’s continued benchmark status.
The rally is supported by declining government bond yields across major Western economies, reflecting high debt, persistent inflation, and slowing growth.
Technically, the BTC-XAU ratio has been forming a long-term ascending triangle since 2017. After a modest 25% pullback from late-2024 highs—significantly shallower than previous 75–84% drawdowns—the pattern points to a possible breakout in late Q4 2025 or early 2026, signaling renewed upside for bitcoin relative to gold.
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