#美联储降息预测 The end of the Bitcoin bear market may come sooner, as the gold ratio has fallen below the 350-day moving average and touched a key Fibonacci support level, making the current area an accumulation zone.

Bitcoin has consistently struggled to maintain a sustained correlation with gold, recently only moving in sync during market downturns. However, if we look at Bitcoin’s price from the perspective of gold rather than the US dollar, we can gain a more comprehensive understanding of the current market cycle. By measuring Bitcoin’s real purchasing power relative to comparable assets like gold, we can identify potential support levels and judge when the bear market cycle might end.

Breaking key support, the Bitcoin bear market officially begins
When Bitcoin fell below the 350-day moving average of roughly $100,000 and the key six-figure psychological threshold, it effectively entered bear market territory, with the price immediately dropping by about 20%. From a technical analysis perspective, a price drop below the “golden ratio multiplier” moving average is typically seen as a bear market signal. However, when priced in gold rather than USD, the situation becomes even more interesting.