While Bitcoin tests a pivotal support, gold moves toward a threshold last seen 50 years ago.

Gold Hits Key Threshold as Bitcoin Holds Critical Support

Gold is approaching a significant level relative to the U.S. money supply (M2SL), reaching heights last seen in 2011 and not surpassed since the 1970s. Back then, the metal’s price more than tripled over several years, peaking at $700 an ounce.

Bitcoin (BTC $88,388.75), often dubbed digital gold, is testing an important support level, revisiting lows last seen during April’s “tariff tantrum.”

Gold, which traded around $1,800 an ounce in 2011, now trades near $4,500. Measured against the money supply—including cash, bank deposits, and liquid savings—the metal has entered a historical resistance zone. Gold has surged roughly 70% this year, contrasting sharply with Bitcoin, which is down about 10%.

Despite this, Bitcoin continues to reach new highs relative to the U.S. money supply in each cycle. Its current support level also aligns with the prior cycle high from March 2024, underscoring its continued role as a digital store of value.