BlockBeats News, May 27th, the three-month uptrend of Bitcoin relative to gold has clearly broken. The BTC/Gold ratio recently fell below a key uptrend line, indicating that fund preferences are shifting back to gold and other traditional safe-haven assets.

Data shows that since March, the BTC/Gold ratio has risen from about 12 to 18, reflecting a market that once favored Bitcoin as "digital gold." However, with the recent trend reversal, analysts believe that gold may outperform BTC in the short term.

Fund flows have also confirmed this change. Over the past two weeks, cumulative outflows from U.S. Bitcoin ETFs have exceeded $2 billion; meanwhile, gold and precious metal ETFs attracted approximately $2.34 billion in net inflows in the week ending May 20th.

Analysts believe that as U.S. bond yields rise, expectations of "higher rates for longer" strengthen, and with the continued turmoil in the Middle East, the market is reallocating to traditional hard assets, while the narrative of BTC as a "store of value" is losing momentum.