Bitcoin Outpaces Gold Amid Bullish BTC-Gold Ratio Breakout and Trade Optimism

Bitcoin (BTC) has significantly outperformed gold (XAU) over the past two weeks, driven by a bullish breakout in the BTC-to-gold ratio and improving global trade conditions. The BTC-Gold ratio, which tracks the relative USD value of bitcoin against gold per ounce, recently surged past a key technical resistance, breaking out of an inverse head-and-shoulders pattern—a classic bullish reversal signal. The ratio currently stands at 32.00, with technical analysis targeting a rise to 35.00, suggesting continued BTC outperformance.

While gold recently peaked above $3,500 on April 22, it has since dropped over 8% to around $3,211. In contrast, BTC has jumped nearly 19% during the same period, reaching approximately $104,000. This shift reflects a broader rotation toward risk assets as investor sentiment improves.

Adding momentum to Bitcoin’s rally is a major de-escalation in U.S.-China trade tensions. In a joint statement issued in Geneva, both nations agreed to lower tariffs on manufactured goods for 90 days. China plans to reduce tariffs on U.S. products from 125% to 10%, while the U.S. will cut its tariffs on Chinese goods from 145% to 30%.

According to Coinstash co-founder Mena Theodorou, these developments signal a broader return to risk-on sentiment, with global capital likely flowing into crypto and equities. Additional optimism stems from the U.S. finalizing trade deals with both China and the UK, alongside an upcoming meeting between Russia’s Putin and Ukraine’s Zelensky, aimed at discussing a potential ceasefire.

As macroeconomic conditions shift positively, Bitcoin could continue gaining ground against traditional safe-haven assets like gold, supported by stronger technicals and institutional confidence.