The S&P 500 priced in gold just hit an 11-year low. What does this tell us? When equities lose purchasing power relative to precious metals, it's often a signal of either market stress or a fundamental shift in asset valuations.

For crypto investors and traders watching macro trends, this metric matters—it reflects how traditional markets are performing against hard assets. A 11-year low suggests we're revisiting price levels that haven't been seen since the previous market cycle. Whether this indicates a bottoming opportunity or signals deeper economic concerns worth monitoring depends on where inflation and interest rates head next.

This kind of cross-asset comparison is exactly why understanding macro cycles helps inform portfolio positioning across stocks, commodities, and digital assets alike.