Bitcoin-to-gold ratio breaks 12-year support as gold price hits a record $3K

Bitcoin is in the process of breaking its multiyear uptrend against gold, mirroring the March 2021–March 2022 fractal, suggesting BTC price could drop below $65,000.

Bitcoin (BTC) breached a rising support trendline against gold (XAU), which has been intact for over 12 years, on March 14.

XAU/BTC ratio weekly performance chart. Source: TradingView/NorthStar

Popular analyst NorthStar says this breakdown could spell the end of Bitcoin’s 12-year bull run if it stays under the gold trendline for even a week or—worse—a month.

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