Bitcoin (BTC) price has rebounded by 14.60% after plunging below $75,000 for the first time in five months in April. However, its failure to break above the $85,000 resistance level decisively has sparked concerns that the ongoing recovery may trap bulls.BTC/USD daily price chart. Source: TradingViewGold’s rally may risk crashing Bitcoin below $50,000 Bitcoin could continue to underperform as Donald Trump’s intensifying global trade war drives investors toward safer assets like gold, according to Bloomberg’s Senior Commodity Strategist Mike McGlone.McGlone argues that risk assets are showing signs of reverting to long-term means, mainly their 200-week moving averages that have historically served as critical floor during major price corrections.Bitcoin and S&P 500 weekly chart comparison. Source: Mike McGloneAs of April 20, Bitcoin’s 200-week moving average was around $46,300, down by about 45% compared to current price levels at around $85,000. Meanwhile, gold has surged to a record high of $3,115 per ounce in April, up over 19% year-to-date. The precious metal continues to attract capital amid rising geopolitical tensions, recession fears, and tariff-driven inflation risks. XAU/USD versus BTC/USD year-to-date performance chart. Source: TradingViewAccording to McGlone, this rotation into hard assets like gold and out-of-high-beta plays like crypto reflects a classic