Why is Bitcoin Underperforming Gold? episode artwork

EPISODE · Jan 28, 2026 · 35 MIN

Why is Bitcoin Underperforming Gold?

from The DeFi Report · host Michael Nadeau

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 & SUBSCRIBEhttps://www.youtube.com/@thedefireporthttps://thedefireport.io/https://x.com/the_defi_reporthttps://x.com/JustDeauIt----TIMESTAMPS0:00 Intro2:08 Bitcoin vs. Gold Ratio Analysis8:19 Understanding Gold's Outperformance13:12 China's Impact on Gold Demand14:27 Bitcoin's Future as a Reserve Asset16:27 Potential Bottom for Bitcoin Ratio20:25 Market Sentiment & Investor Behavior26:35 Onchain Metrics and Market Conditions33:41 The Future of Real World Assets in Crypto34:59 Closing & Disclaimers----Not financial or tax advice. For educational purposes only.

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 & SUBSCRIBEhttps://www.youtube.com/@thedefireporthttps://thedefireport.io/https://x.com/the_defi_reporthttps://x.com/JustDeauIt----TIMESTAMPS0:00 Intro2:08 Bitcoin vs. Gold Ratio Analysis8:19 Understanding Gold's Outperformance13:12 China's Impact on Gold Demand14:27 Bitcoin's Future as a Reserve Asset16:27 Potential Bottom for Bitcoin Ratio20:25 Market Sentiment & Investor Behavior26:35 Onchain Metrics and Market Conditions33:41 The Future of Real World Assets in Crypto34:59 Closing & Disclaimers----Not financial or tax advice. For educational purposes only.

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Why is Bitcoin Underperforming Gold?

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This episode was published on January 28, 2026.

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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...

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