Bitcoin‑Gold Ratio Slides to 5‑Year Low as Bloomberg Strategist Warns of Potential 50% Further Drop

According to Bloomberg senior strategist Mike McGlone, the Bitcoin‑to‑gold ratio on the XBT/XAU chart has fallen back to around 20.18, roughly its level of five years ago after dropping by half from late 2024 highs near 40. He argues this so‑called "5-Year Curse" could signal another 50% decline versus gold and sees Bitcoin's failure to break $100,000 in 2025, along with weakness below the 200-day moving average into early 2026, as part of a broader mean reversion risk. McGlone outlines possible retracements toward $50,000, with an overshoot to $10,000 if risk assets retreat and equity market volatility rises, while stressing that Bitcoin's chart compared with gold now looks more balanced than bullish.