Key Highlights
Gold logged its longest losing streak since 1920, falling for 10 straight sessions.
Bitcoin held up better than gold, with the BTC-to-gold ratio climbing to roughly 15–16 ounces.
ETF flows showed the same split, with money leaving commodity funds while bitcoin ETFs attracted fresh inflows.
Gold is coming off its longest losing streak in more than a century, while Bitcoin has held up better during the latest market pullback.
Spot gold was trading near $4,503 an ounce on March 26 after falling for 10 straight sessions, marking its worst run since February 1920. Bitcoin, meanwhile, was trading around $69,900, showing greater resilience even as investors adjusted to a tougher macro backdrop.
Gold has been under pressure as markets scale back expectations for Federal Reserve rate cuts. Higher oil prices and renewed inflation concerns have pushed rate expectations higher, weighing on non-yielding assets such as gold.
Bitcoin has faced the same environment but has performed better relative to the metal. The BTC-to-gold ratio climbed to just under 16 ounces, up sharply from late February, showing that one bitcoin now buys significantly more gold than it did only weeks ago.
Fund flows point in the same direction. Commodity ETFs have seen heavy outflows this month, while U.S. spot bitcoin ETFs have attracted fresh inflows. The shift does not settle the debate over whether Bitcoin can rival gold as a hedge, but it does show where investors have been more willing to stay exposed in recent weeks.
