Mike McGlone, a commodity strategist at Bloomberg Intelligence, has cautioned investors about Bitcoin’s potential future despite its recent surge to the highest level against the S&P 500. His warning stems from an unexpected change in the Bitcoin-to-gold ratio. This crucial indicator suggests that Bitcoin is becoming less expensive compared to gold, potentially pointing towards a turning point. McGlone’s analysis highlights a divergence between Bitcoin and traditional safe-haven assets like gold, which could signal a potential market shift. Despite this positive momentum, recent data reveals Bitcoin has already experienced significant fluctuations in price, reaching $96,953 per coin after a 3% surge from the previous day. This update comes ahead of the upcoming FOMC meeting where investors will be closely watching for any market impact.