Bitcoin May Be Losing ‘Digital Gold’ Status as Gold Reclaims Ground, Analyst Says

• Gold is outperforming Bitcoin on several key metrics

• Gold futures hit a record near $4,130/oz; GLD saw $12.5 billion in trades, one of its largest sessions.

• Bitcoin/Gold ratio slipped from 50 to about 30; Bitcoin fell below $111,000 after a failed move toward $124,000.

Bitcoin vs gold: Gold’s surge challenges Bitcoin’s “digital gold” narrative—see data, expert commentary, and what investors should monitor. Read COINOTAG analysis.

Published: October 14, 2025 | Updated: October 14, 2025
Author: COINOTAG

What is happening with Bitcoin vs gold?

Bitcoin vs gold currently shows gold regaining relative strength as the Bitcoin/Gold cross has declined markedly, signaling a rotation into physical safe havens while Bitcoin experiences renewed volatility. Data points include record gold prices, elevated GLD ETF turnover, and a notable contraction in the ratio that previously favored Bitcoin.

Bloomberg strategist Mike McGlone has framed the shift as a potential market “great reset,” noting that when the Bitcoin/Gold ratio falls it often coincides with broader risk-off moves that benefit precious metals over risk assets. The takeaway for investors is not a call to sell Bitcoin, but to reassess relative risk exposures and liquidity needs in a quickly shifting landscape.

Market participants should consider both instruments’ roles: Bitcoin as a high-volatility digital asset and gold as a historically stable store of value. Current price action suggests that, at least in the short term, gold’s status as a safe haven is being reasserted.

For context, the recent session saw gold futures rise approximately $130 to end near $4,130 per ounce, a 3.3% gain that pushed the metal toward a roughly $1 trillion increase in market capitalization. At the same time, expectations that Bitcoin might power toward $124,000 were tempered as the coin slipped back under $111,000 when U.S. trading resumed.

How do ETF flows and technical indicators support the gold move?

Exchange-traded product activity provides a clear signal: GLD, the largest bullion ETF, recorded about $12.5 billion in trades—its second-highest session on record—which outpaced most single-stock turnover among large-cap tech names. That level of activity reflects institutional and retail repositioning into gold exposure.

Technically, gold’s monthly Relative Strength Index (RSI) reached an unusually high reading around 91.8, noted as one of the strongest monthly momentum readings on record. Gold has posted only four losing months since March 2024, reinforcing the narrative of persistent demand. These objective metrics support the argument that physical scarcity narratives are receiving renewed investor attention.

Source: Mike McGlone

Mike McGlone (Bloomberg) has previously been criticized for pessimism, but his observations here are supported by clear trade and price data. He summarizes the dynamic as a widening appetite for traditional safe havens at a time when risk assets face heightened volatility.

Frequently Asked Questions

Is gold outperforming Bitcoin this year based on available data?

Yes. Based on recent sessions, gold has recorded record futures highs and unusually large ETF turnover, while the Bitcoin/Gold ratio has dropped from prior peaks near 50 to approximately 30. These objective measures indicate gold’s stronger near-term performance versus Bitcoin.

How should I compare Bitcoin and gold when markets get volatile?

Compare them by volatility, liquidity, and purpose: Bitcoin offers higher upside and higher short-term volatility; gold provides lower volatility, deep liquidity in stress periods, and historical safe-haven utility. Rebalance allocation based on risk tolerance, time horizon, and liquidity needs.

Key Takeaways

• Relative strength shift: Gold has outpaced Bitcoin in recent sessions, evidenced by record futures and heavy GLD trading.
• Objective indicators: Gold’s monthly RSI and ETF turnover point to sustained demand; the Bitcoin/Gold ratio has materially declined.
• Investor action: Reassess portfolio exposure to both assets; consider liquidity needs and the role each plays in risk management.

Conclusion

Data-driven metrics show that Bitcoin vs gold dynamics have shifted in favor of gold in the short term. Bloomberg strategist Mike McGlone’s “great reset” framing is consistent with market signals such as record gold futures, heavy GLD ETF turnover, and a falling Bitcoin/Gold ratio. Investors should use these objective indicators to review allocations, balancing growth exposure to Bitcoin with the stability that gold currently provides. COINOTAG will continue to monitor price action, ETF flows, and official market statistics and update this analysis as new data become available.

Sources cited in this reporting (plain text): Bloomberg, Mike McGlone commentary; GLD ETF trade data; public futures price data and monthly RSI readings. No external links provided.