The current bitcoin exchange rate against gold has fallen below the uptrend line, which has previously been maintained for more than 12 years. If bitcoin stays below the gold trend line for a week or even a month, such a breakout could herald the end of bitcoin's 12-year bull market, according to NorthStar, a well-known analyst. Gold hit a new high, while bitcoin's uptrend cooled. The BTC/XAU ratio's breakout came as spot gold prices hit a new high above $3,000 an ounce on March 14 and has gained about 12.80% so far this year. In contrast, bitcoin, often referred to as digital gold, is down 11% so far in 2025. US spot gold ETFs have attracted more than $6.48 billion in inflows so far this year, according to the World Gold Council. Globally, gold ETFs have seen inflows of $23.18 billion. US spot bitcoin ETFs have seen outflows of nearly $1.46 billion so far this year.