Why is Bitcoin Underperforming Gold?

In this episode of The DeFi Report, Mike and Ryan break down why Bitcoin is underperforming gold, what the BTC/Gold ratio is signaling about the next bottom, and why this setup may be more bullish than it looks. They unpack China’s role in driving the gold trade, why Bitcoin still behaves like a risk-on asset, and how investor “envy” distorts cycle perception. Mike lays out realistic downside scenarios, key support levels to watch, and the onchain signals he needs to see before deploying capital. ---- 📣THE DEFI REPORT | FOLLOW & SUBSCRIBE https://www.youtube.com/@thedefireport https://thedefireport.io/ https://x.com/the_defi_report https://x.com/JustDeauIt ---- TIMESTAMPS 0:00 Intro 2:08 Bitcoin vs. Gold Ratio Analysis 8:19 Understanding Gold's Outperformance 13:12 China's Impact on Gold Demand 14:27 Bitcoin's Future as a Reserve Asset 16:27 Potential Bottom for Bitcoin Ratio 20:25 Market Sentiment & Investor Behavior 26:35 Onchain Metrics and Market Conditions 33:41 The Future of Real World Assets in Crypto 34:59 Closing & Disclaimers ---- Not financial or tax advice. For educational purposes only.