Must Recover or Else: The Bitcoin/Gold Cross - If the S&P 500 posts its third down year since 2008 in 2026, the ounces of the ancient store of value equal to the speculative digital asset will gain accolades as a leading-indicator. My chart shows the Bitcoin/gold cross near critical support at 20x on Dec. 19. What stops the cross from gravitating toward its mode at roughly 5x? The fact that Bitcoin/gold is unchanged from 2020 and has dropped despite a resilient stock market might be signaling an endgame for lofty risk assets. A prerequisite for rising Bitcoin/gold has historically been increasing equity prices. My take is the leading indicator is front running some post-inflation deflation, which may place an inordinate burden on stocks to keep going up. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/t71wgbkgzaiq {BI COMD} #gold #Bitcoin #stockmarket #macroeconomics @BBGIntelligence(Mike McGlone)