Bitcoin prices continue to soar on the back of positive macro events in the United States, with bulls anticipating inflows in Donald Trump’s second term.
The Bitcoin to gold ratio hit a new all-time high, weighing the purchasing power of gold per ounce to one Bitcoin. The ratio is currently at 40 gold ounces per BTC.
Trader Peter Brandt projects a significant surge in the Bitcoin-Gold ratio, suggesting that the next mark is 89, double the present level.
Institutional investors have been allocating assets towards Bitcoin following the approval of spot Bitcoin ETFs by the SEC, driving towards larger global adoption.