Bitcoin's status as digital gold challenged amid severe price weakness

Bitcoin is exhibiting severe price weakness against gold, challenging its narrative as a digital store of value, Coindesk reports. The current BTC-to-gold price ratio is approximately 18.46, down about 55% from its peak in December 2024. This comes as spot gold has gained 12% year-to-date, climbing as high as $4,900 an ounce. Over a five-year period, gold's 160% return has also outpaced Bitcoin's 150%. The analysis pointed to historical precedents, noting the ratio fell 77% in 2022 and 84% in 2018, suggesting the current downturn may not have reached its floor.