Analysis: The trend of Bitcoin and gold exchange rate implies that the bull market trap still exists, possibly entering a deeper adjustment

Golden Finance reports that data shows the Bitcoin to Gold (BTC/XAU) exchange rate has entered a bearish fractal, currently testing the 50-day moving average level. If it falls below this, it may enter a deeper adjustment, especially under worsening macroeconomic conditions. Analysis suggests that from a fundamental perspective, Bitcoin's price outlook seems to be leaning downwards. Investors are worried that President Trump's global tariff war could escalate into a full-scale trade war and trigger an economic recession in the United States. Risk assets like Bitcoin often perform poorly during periods of economic contraction.