Bloomberg analysts: The cryptocurrency to precious metals ratio has fallen below a key support level, and the former may continue to underperform before 2026

Bloomberg analyst Mike McGlone stated that the ratio of cryptocurrencies to metals has fallen below a key support level, indicating that this trend may continue into 2026.

Data shows that the Bloomberg Galaxy Crypto Index (BGCI) to Bloomberg All Metals Total Return Subindex (BCOMAMT) ratio has broken below the previous resistance level of approximately 510, which was initially established in 2018 (based on a 2017 baseline of 100). This technical breakthrough may suggest that the performance of crypto assets relative to the traditional metals market will continue to weaken.