Bitcoin (BTC) Downtrend May Put Gold and Stocks at Risk
Photo: TokenPost
Bitcoin’s 50-week moving average points to a downtrend, senior commodity strategist Mike McGlone said, warning that the cryptocurrency’s retreat may signal weakness in gold and other risk assets. McGlone said gold’s volatility is about 2.2 times the S&P 500’s annualized volatility, its highest level since 2007. He described gold as a high-volatility, highly correlated asset. He said S&P 500 volatility could move back toward its usual one-to-one relationship with gold. McGlone also said Trump’s shift from opposing crypto to supporting it helped Trump win reelection in 2024.
Source: TokenPost
