Bitcoin Catches Up to Gold as Ratio Hits 18
The bitcoin-to-gold ratio has reached its highest level since January, with one BTC covering approximately 18 ounces of gold. This reading is particularly notable as both assets have been rallying together after the Federal Reserve's job data news.
According to TradingView data, the current ratio stands at 18.17, which is the strongest relative showing for Bitcoin since January. In dollar terms, Bitcoin is trading around $80,800 to $81,000.
The rising ratio has led some to speculate that Bitcoin may be capturing a durable share of the safe-haven trade from gold. However, others argue that it simply reflects Bitcoin's higher volatility, amplifying the same debasement narrative faster than gold can move.
U.S. Treasury Secretary Scott Bessent's comments at the G20 finance ministers' meeting have been cited as a potential catalyst for Bitcoin's rally. Bessent stated that the world is awash in debt and that growth is the only realistic way out, rather than shrinking the debt pile through spending cuts.
Anthony Scaramucci, founder of SkyBridge Capital, has interpreted Bessent's comments as an unintentional case for Bitcoin, arguing that it validates the asset's core pitch.