Data: The exchange rate of Bitcoin against gold surged 12% on Wednesday, marking the largest single-day increase since February 28, 2022

ChainCatcher news, according to CoinDesk, TradingView data shows that after pro-crypto Republican candidate Trump won the U.S. presidential election, the Bitcoin-to-gold exchange rate (the ratio of Bitcoin's price to the price of gold per ounce) surged 12% on Wednesday, marking the largest single-day increase since February 28, 2022. More importantly, the surge in this ratio confirms the end of an eight-month downtrend defined by a trendline connecting the highs of March and June. This breakout indicates that Bitcoin's performance relative to gold will improve again, partly because investors are reallocating funds from gold to Bitcoin.

Noelle Acheson, author of the "Crypto Is Macro Now" newsletter, stated: "By analyzing the Bitcoin-to-gold ratio, we can see that the downtrend indicating better performance for gold since March is beginning to reverse. Globally, investors will increasingly focus on hedging against currency devaluation and capitalizing on opportunities in the Trump market, both of which are favorable for Bitcoin."