Senior Commodity Strategist at Bloomberg Intelligence, Mike McGlone, has spotted something interesting and possibly worrying.

彭博情报公司Mike McGlone的高级商品策略师发现了一些有趣且可能令人担忧的东西。

Comparing the movement of Bitcoin (vs gold) with Dogecoin, he found that both are following nearly the same path. But this isn’t just about matching charts. It could be a sign of a Bearish Run.Two Different Assets, One Similar PatternAt first glance, Bitcoin and Dogecoin seem like very different assets. Bitcoin is often viewed as “digital gold,” aiming to provide an alternative store of value, while Dogecoin began as a playful spin-off of a meme.

将比特币（Vs Gold）与Dogecoin的运动进行比较，他发现两者都遵循几乎相同的路径。但这不仅仅是匹配图表。这可能是看跌的迹象。两个不同的资产，一个类似的模式的第一眼，比特币和狗狗币似乎是非常不同的资产。比特币通常被视为“数字黄金”，旨在提供另一种价值存储，而Dogecoin最初是模因的嬉戏衍生产品。

Yet, if we look at the chart that McGlone shared, we can see that the relative price action of these two assets has been surprisingly similar over the past year. Both rose sharply at the end of 2023 and reached their peaks early in 2024. Since then, both have dropped and bounced around in a similar fashion.

但是，如果我们查看McGlone分享的图表，我们可以看到这两个资产的相对价格动作在过去一年中的相似性相似。两者在2023年底急剧上升，并在2024年初达到了高峰。从那时起，两者都以类似的方式下降并弹跳。

Right now, both the Bitcoin-to-gold ratio and Dogecoin’s price are resting on a long-term upward trendline, offering support to both crypto assets. However, McGlone doesn’t seem optimistic that this support will hold for long. He believes that this isn’t a sign of a new bull market but rather a bounce in a longer-term bear market.

目前，比特币与金币的比率和Dogecoin的价格都基于长期的趋势线，为这两个加密资产提供了支持。但是，McGlone似乎对这种支持将长期存在并不乐观。他认为，这不是新牛市的迹象，而是在长期熊市中反弹。

Recession Fears A Drop in Risky Assets FOMOHis main reason for this view is the U.S. stock market, which he feels could be indicating a coming recession. Many people were expecting a recession in 2023, but it didn’t materialize yet.

经济衰退担心，这种观点的风险资产下降是美国股市，他认为这可能表明即将衰退。许多人期待2023年的衰退，但尚未实现。

But McGlone thinks it was only delayed and will still come, and when it does, risky assets like Bitcoin and Dogecoin could drop sharply. So, his message is clear: the recent crypto price bounce might not mean a bullish rally; it could just be a short break before prices fall again.

但是麦格隆认为它只是被延迟的，仍然会来的，而当这样做时，像比特币和狗狗等风险资产可能会急剧下降。因此，他的信息很明确：最近的加密价格反弹可能并不意味着看涨的集会。在价格再次下跌之前，这可能只是短暂的休息。

Dogecoin – Bitcoin Price UpdateDogecoin is up nearly 10% in the past 24 hours and now trades around $0.1827. The popular meme coin is now aiming for the $0.1885 level, but first, it needs to break above the $0.186 resistance.

Dogecoin - 比特币价格更新在过去24小时内增长了近10％，现在交易约为0.1827美元。流行的模因硬币现在的目标是达到0.1885美元，但首先，它需要超过0.186美元的电阻。

Looking at the charts, the 4-hour Relative Strength Index (RSI) has climbed above 83, which suggests that Dogecoin is currently in an “overbought” zone. This usually means a short-term price correction could be on the way.

从图表上看，4小时的相对强度指数（RSI）攀升到83以上，这表明Dogecoin目前处于“过失”的区域。这通常意味着短期价格纠正可能会发生。

Meanwhile, Bitcoin is also showing strength. It has broken past the $94,000 mark and is up nearly 6% in the last 24 hours.

同时，比特币也表现出强度。它已经超过了94,000美元的大关，在过去24小时内增长了近6％。