Veteran trader Peter Brandt recently discussed the Bitcoin/Gold ratio, suggesting a possible upcoming local low. In a recent tweet, Brandt analyzed the Bitcoin/Gold ratio, a key indicator for traders evaluating Bitcoin’s strength compared to the traditional safe-haven asset, Gold. Brandt shared a chart showing a pattern resembling a descending channel, indicating a downward trend in the Bitcoin/Gold ratio but also hinting at a potential reversal point. Bitcoin Sees Decoupling from Gold Recent analysis by CryptoQuant suggests that Bitcoin has decoupled from Gold, with Bitcoin prices dropping as Gold achieves record highs. This shift has resulted in a negative correlation between the two assets, typically signaling a risk-averse environment where investors prefer safe-haven assets like Gold over speculative assets such as Bitcoin. At the time of writing, BTC was trading at $59,773, showing a 3.17% increase in the last 24 hours. Bitcoin’s price surged over the weekend, reaching its highest level since the beginning of September, as traders speculated about a potential significant rate cut following the Federal Reserve’s upcoming meeting. This article was initially published on U.Today.