Bitcoin lags gold as debasement trade tilts toward bullion in early 2026
Bitcoin trades near a two-year low versus gold as Bitwise’s liquidity Z-score hits -2, echoing past BTC macro bottoms and a potential rotation setup. Summary Bitcoin trades at a two-year low versus gold on a liquidity-adjusted basis, with its Z-score near -2, a level tied to past BTC cycle bottoms. Bitwise says BTC now sits
