As always, this is just me thinking out loud. If we consider the fiat/usd deflation narrative and also the idea that btc will be the digital gold or its digital equivalent, then the ratio of gold / btc should be relatively unaffected by the loss of value from usd. I would like to track this for a while with this chart, which has the horizontal lines as 12 month levels, which could provide some s/r. also the trend lines since the beginning of btc. as we see the ratio has managed a few times to break out to the upside of the general trend, in times when the btc price saw exponential growth. I also marked the red line as this lines seems to be reactive and it's interesting that we are just knocking on it. I might also make a chart with fibs instead of trendlines. I'm generally interested in the relationships of gold, silver, btc, eth and usd. maybe it would be interesting to also add a second fiat to the mix, like chinese yuan, or russian ruble.
