The "rounding" effect Brandt highlighted suggests the ratio's fall has not stopped; it is beginning to curl upward
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In other words, CoinDesk could be entering a new macro cycle where gold begins to claw back the ground it lost to bitcoin over the last 15 years.
Key facts
The divergence looks even starker on a year-to-date basis, with BTC down 28% in 2026 versus a 3.9% decline for gold
The leading cryptocurrency by market value slid 20% in June to below $60,000, marking its worst monthly performance in four years
In the never-ending battle between bitcoin BTC $ 62,867.66, the digital gold, and the traditional yellow metal, veteran trader Peter Brandt has picked a side, and it’s not the one bitcoin bulls
But Brandt’s technical analysis suggests that the expected rotation may not happen and gold's outperformance relative to BTC could continue
Summary
Veteran trader Peter Brandt says he is considering selling some of his bitcoin holdings to buy gold, arguing the metal is poised to gain substantially against the cryptocurrency. Brandt shared a long-term chart for the XAU/BTC ratio, which shows waning bitcoin dominance and a potential new macro cycle in which gold outperforms the leading cryptocurrency. In the never-ending battle between bitcoin BTC $ 62,867.66, the digital gold, and the traditional yellow metal, veteran trader Peter Brandt has picked a side, and it’s not the one bitcoin bulls would have hoped for. Brandt, CEO of Factor LLC and widely followed chart analyst, said on X that he is mulling liquidating some of his BTC and using the proceeds to buy gold, as he sees the yellow metal outperforming BTC. "The reporter is contemplating selling some of their Bitcoin and going to Gold with the money.