Add as a preferred source on GoogleBitcoin (BTC) Downtrend May Put Gold and Stocks at Risk
Senior commodity strategist Mike McGlone put gold’s volatility at about 2.2 times the S&P 500’s annualized volatility, the highest level since 2007.
Bitcoin’s 50-week moving average points to a downtrend, senior commodity strategist Mike McGlone said, warning that the cryptocurrency’s retreat may signal weakness in gold and other risk assets.
McGlone said gold’s volatility is about 2.2 times the S&P 500’s annualized volatility, its highest level since 2007. He described gold as a high-volatility, highly correlated asset.
He said S&P 500 volatility could move back toward its usual one-to-one relationship with gold. McGlone also said Trump’s shift from opposing crypto to supporting it helped Trump win reelection in 2024.
With Bitcoin down from its peak, McGlone said historical patterns suggest other risk assets may follow its decline.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.