Bitcoin 40,000, Gold 4,000; Inflation vs. Deflation, Recession - The languishing price of Bitcoin vs. gold in 2025 may reflect anticipation of a typical cycle where deflation follows inflation. May's 33x high in the per-ounce price of the metal equal to one crypto has peak inklings, especially if the US stock market declines. The recession that didn't come in 2023 could push the S&P 500 toward 4,000, and gold closer to 4,000 an ounce and 10x Bitcoin/gold. Full report on the Bloomberg terminal here: https://blinks.bloomberg.com/news/stories/sx9yqat1um0w {BI COMD} #gold #bitcoin #commodities #stockmarket @BBGIntelligence