Bloomberg Analyst: Crypto Assets Fall Below Key Support Level, May Continue to Underperform Precious Metals in 2026
BlockBeats News, February 11, Bloomberg Intelligence Senior Commodity Strategist Mike McGlone stated in an article, "Crypto assets have fallen below a key support level relative to metals, indicating that this trend may continue into 2026. The chart shows that the ratio of the Bloomberg Galaxy Crypto Index (BGCI) to the Bloomberg All Metals Total Return Subindex (BCOMAMT) has broken below the previous resistance level of around 510. This resistance level was first established in 2018 (with 2017 as the base year at 100)."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
For the first time in nearly 30 years! 500 million euros equivalent deployed as funds, New York Fed report confirms joint Japan-US intervention in yen exchange rate
The New York Federal Reserve released a report on Thursday confirming earlier market news that the US Treasury used approximately 500 million USD equivalent in euros, which it holds, to support the Japanese yen in a coordinated intervention with Japan on July 31.
Nearly $600 Million in Crypto Longs Liquidated as Bitcoin and Ethereum Fall to August Lows
Crypto prices
More
