precisely.
these are all USD denominated.
and when we see graphs that look different, we should ask ourselves WHY us dollars are flowing into one asset instead of the other one.
Discussion
I don’t think I understand entirely. Like, it all comes back to how much food you can put on my table for .069 BTC/Camry’s. It varies from place to place. You mean all these countries are on the war-dollar standard?
except for extremely remote markets
all prices come back to USD
its not that those USD prices of euros or whatever don't change of course
but that remembering they are USD prices is important.
so if its USD/EUR or JPY/GBP or Gold/Bitcoin or whatever
and that proportion changes in favor of gold (all fractions are proportions)
its because *the underlying US dollars preferred gold over Bitcoin for some reason*
the same for JPY/GBP or whatever you like.
its a simple thing with profound implications.