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Analysis: copper-to-gold ratio fell to the lowest point since November 2020 this month, BTC may experience downward Fluctuation
Odaily Planet Daily According to the data tracked by TradingView and MacroMicro, the copper-to-gold ratio (representing the market price of copper per pound divided by the market price of gold per ounce) has dropped by more than 8% this month, reaching the lowest level since November 2020. The indicator reflects investors’ preferences for risk-sensitive assets such as technology stocks and BTC (relative to safe-haven assets such as gold and US treasuries). MacroMicro explains in the chart interpretation, “As the global economy expands, the copper-to-gold ratio rises, and the stock market also pumps. When economic uncertainty increases, the demand for hedging gold rises, and this ratio decreases.” In short, if the indicator falls, BTC may experience downward fluctuation. (CoinDesk)