Gold slips below 200-day moving average offering glimmer of hope for bitcoin bulls
Gold prices have fallen below their 200-day moving average, entering bear market territory after a significant rally. Analysts suggest this decline, coupled with a stronger U.S. dollar, may be shifting investor interest toward assets like Bitcoin.
Why it matters
The shift in gold's technical performance reflects changing macroeconomic expectations regarding Federal Reserve interest rate policies.
Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Gold slips below 200-day moving average offering glimmer of hope for bitcoin bulls Gold falls into bear market territory, while a stronger U.S. dollar and rising rate expectations pressure risk assets. By James Van Straten | Edited by Jamie Crawley Jun 8, 2026, 9:57 a.m. 2 min read Make preferred on BTC/Gold Ratio (TradingView) What to know : Gold has dropped more than 20% from its January record high of $5,600 per ounce and is now trading below its 200 day moving average. A stronger than expected US jobs report has increased expectations of a Federal Reserve rate hike, while the US Dollar Index (DXY) has moved back above 100. The Bitcoin-to-gold ratio, which measures how many ounces of gold one bitcoin can buy, has climbed 3% over the past 24 hours Gold has fallen below its 200-day moving average (200DMA), a widely followed long term technical indicator that tracks the average closing price over the previous 200 trading days.
The article provides a technical market analysis based on financial data and standard economic indicators.
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