Is the Bitcoin-versus-gold chart completely broken?

Bitcoin dropped below levels that historically marked cycle bottoms versus gold and preceded major rallies in dollar terms.

For years, Bitcoin (BTC) traders have watched its price relative to gold (XAU) for clues on when BTC bottoms in US dollar terms. But in 2026, that BTC-to-gold signal is starting to look less dependable.

Key takeaways:

Bitcoin hits undervaluation versus gold and has slipped below its Power Law trend.

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