Bitcoiners had to endure a run of * counts fingers * FIVE black swan events in the span of 8 years, each resulting in price dumps anywhere from 50% to 80%…
Source: Milk Road, Reddit
Breaking : Gold
Bitcoin $BTC is now outperforming Gold by the largest margin in history Source: Barchart
This is the largest daily gold selloff in four years (-3.5%)
Primarily due to profit-taking transitioning into long liquidation after last week's strong rally, Israel's Netanyahu "in principle" approval of a Lebanon ceasefire deal and the announcement of Scott Bessent as President-elect Donald Trump's nominee for US Treasury Secretary. Bessent is seen as another advocate of a smaller government and budget deficits. Source chart: Bloomberg, Tavi Costa
WORLD INVESTING LANDSCAPE IS CHANGING
Global central banks gold reserves hit 13%, the highest in at least 3 decades. At the same time, foreign ownership of US government bonds fell to ~24%, near the lowest in 2 decades. World is embracing gold at the expense of Treasuries. Source: Global Markets Investor, Apollo
THE BIG SWITCH: FROM GOLD ETFs to BITCOIN ETFs
Source: Bloomberg
Current gold price pattern is similar to that seen in 2016's "sweep republican victory"...
Source. www.zerohege.com
When the US Treasury announces that it will back the Global Reserve Currency with bitcoin 🔥
Bitcoin $BTC relative to gold $XAU has broken out brutally.
YTD
Bitcoin +106% Gold +27% Source: Mike Zaccardi, CFA, CMT, MBA
