Gold is trading at an extreme liquidity premium, while Bitcoin sits at a deep liquidity discount — a rare divergence.


Gold’s liquidity oscillator is near +2σ (historically overextended).
Bitcoin’s is near –2σ (historically undervalued).
The BTC/Gold relative liquidity Z-score is at cycle lows — gold pricing strength, BTC pricing stress.
This kind of imbalance rarely lasts.
Mean reversion here has historically been sharp and violent.
BTC-2,45%
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