Bitcoin Outperforms Gold as Ratio Rebounds Amid Interest Rate Uncertainty

New York Fed President John Williams said that the Federal Reserve has time to assess additional data after the rate increase in September, and still sees room for one further hike late this year.

This pushed expectations for the October hike lower and sent the 2-year Treasury yield toward 4.88%, making borrowing costs more expensive.

Gold struggled to turn its rebound into a stronger recovery, while Bitcoin has regained purchasing power against gold according to the ratio of BTC to XAUUSD.

The ratio has rebounded from the 13 support region and is now facing key resistance at 23, which could strengthen the case for further outperformance in Bitcoin if it breaks above.