The Bitcoin-to-gold ratio fell from 40 to 20 ounces per BTC, reflecting gold’s resurgence in demand amid macroeconomic pressures. Gold gained 63% year-to-date and reached over 4,000 USD per ounce in Q4.
Gold benefited from significant central bank purchases and increased ETF holdings, while Bitcoin’s demand weakened, leading to substantial selling by long-term holders as ETF assets dropped from 152 billion USD to 112 billion USD.
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