Analysts point out that the correlation between Bitcoin and gold fell to a three-year low of -0.9 in March, representing the lowest level since Bitcoin's bull market in 2022. The BTC/gold ratio has now declined 70%, aligning with historical cycle bottoms, suggesting that Bitcoin may have already touched bottom. Despite gold facing potential bearish formations, Bitcoin appears to be consolidating, with on-chain data showing that whale holdings have reached one-year highs.

BTC1.19%

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