Gold slips below 200-day moving average offering glimmer of hope for bitcoin bulls

Gold falls into bear market territory, while a stronger U.S. dollar and rising rate expectations pressure risk assets. What to know : Gold has dropped more than 20% from its January record high of $5,600 per ounce and is now trading below its 200 day moving average. A stronger than expected US jobs report has increased expectations of a Federal Reserve rate hike, while the US Dollar Index (DXY) has moved back above 100. The Bitcoin-to-gold ratio, which measures how many ounces of gold one bitcoin can buy, has climbed 3% over the past 24 hours