Internet reports that the current exchange rate of Bitcoin against gold has fallen below the upward trend line, which has been maintained for more than 12 years. Well-known analyst NorthStar said that if Bitcoin remains below the gold trend line for a week or even a month, such a breakthrough could herald the end of Bitcoin's 12-year bull market. Gold hit a new high, while Bitcoin's uptrend cooled. The break in the BTC/XAU ratio came as spot gold prices hit a new high of more than $3,000 an ounce on March 14 and have risen about 12.80% year-to-date. In comparison, Bitcoin, often referred to as digital gold, has fallen 11% so far in 2025. According to data from the World Gold Council, as of March 14, U.S. spot gold ETFs have attracted more than US$6.48 billion in capital inflows so far this year. Globally, inflows of gold ETFs reached US$23.18 billion. The U.S. spot Bitcoin ETF has seen nearly US$1.46 billion in outflows so far this year.