Peter Brandt considers selling some Bitcoin to buy gold

Veteran trader Peter Brandt is considering selling some of his Bitcoin (BTC) to buy gold, CoinDesk reported. He stated on X that gold appears poised for a significant rally against BTC. According to CoinDesk, BTC fell 20% in June to drop below $60,000, while gold declined 11.7% to around $4,000 per ounce. Year-to-date, Bitcoin is down 28%, whereas gold has only seen a 3.9% drop. The media outlet noted that the downtrend in the XAU/BTC chart, which prices gold in Bitcoin terms, has slowed since the 2019-2020 period and has recently begun to rise. This could signal the start of a new cycle of capital rotating from Bitcoin into gold, the analysis suggested.