Bitcoin-to-Gold Ratio Climbs to 19.8 Ounces as Rate Hike Cycle Tests Both Assets
- —BTC-to-gold ratio rose from 12 ounces in February to 19.8 ounces
- —Fed raised rates 25 bps to 3.75–4%, first hike since July 2023
- —Spot BTC ETFs saw $5.4 billion in net redemptions in H1 2026
- —Central banks bought 289 tons of gold in Q2 versus 57 tons in Q1
Why it matters: Rising real yields are eroding Bitcoin's appeal as a hedge, tying it more closely to liquidity and ETF flows.
Source: Blockhead
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