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Bitcoin loses to gold as debasement trade with BTC at 2-year lows: Analysis 28 minutes ago Bitcoin failed to become investors' choice as the debasement trade as BTC price action slumps while gold and silver hit repeat all-time highs, said analysis. Key points: - Bitcoin is not the debasement trade after years of loses against gold, analysis concludes. - As precious metals hit all-time highs, BTC price action fails to rebound. - Gold starts grilling the S&P 500, potentially shifting a years-old narrative if it continues to gain. BTC debasement trade: “The narrative is broken” New analysis from Karel Mercx, an investment specialist at Dutch investment advisory Beleggers Belangen, says Bitcoin has failed as the \"debasement trade.\" Bitcoin slipped below 20 ounces in gold terms to start 2026, and is now circling two-year lows, per data from TradingView. As markets react to US government action against Federal Reserve Chair Jerome Powell, gold and silver continue to enjoy price discovery while Bitcoin flounders. While bulls hope that BTC/USD will soon catch up, for Mercx, the writing has long been on the wall. “The verdict is in: the debasement trade is Gold & Silver, not Bitcoin,” he told X followers in a post Monday. _BTC/XAU one-week chart. Source: Cointelegraph/TradingView_ This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information. * [#Bitcoin](https://cointelegraph.com/tags/bitcoin) * [#Gold](https://cointelegraph.com/tags/gold) * [#Bitcoin Price](https://cointelegraph.com/tags/bitcoin-price) * [#Markets](https://cointelegraph.com/tags/markets) * [#Market Analysis](https://cointelegraph.com/tags/market-analysis)

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