Bitcoin-to-gold ratio risks 35% decline following Wall Street's $13T wipeout

Bitcoin’s breakdown against gold mirrors previous bear markets and heightens the risk of a decline toward $50,950 in US dollar terms.

Bitcoin’s (BTC) value relative to gold (XAU) may be poised for a steep 35% drop as it mirrors historical bear market signals and reacts to massive turbulence that has wiped out $13 trillion from the US stock market.

As of April 22, the BTC/XAU ratio had closed below its 50-period exponential moving average (50-period EMA; the red wave) on the two-week chart for the first time since April 2022.

Historically, a decisive close below the 50-period EMA has led to an extended downtrend toward the 200-period EMA (the blue wave).

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