December 29, The Kobeissi Letter, accompanied by the recent rally of precious metals such as gold and silver, Bitcoin has been consolidating. As of this weekend, the Bitcoin to Silver ratio has dropped to 1104, the lowest level since September 2023. Since May, due to silver outperforming Bitcoin significantly, the ratio has fallen by 67%. Meanwhile, the Bitcoin to Gold ratio has decreased to 19, the lowest since November 2023, down 50% from January. In comparison, during the 2022 bear market lows, these two ratios were 680 and 9 respectively.
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The Bitcoin to gold ratio has reached its lowest point since November 2023, still above the previous bear market low.
December 29, The Kobeissi Letter, accompanied by the recent rally of precious metals such as gold and silver, Bitcoin has been consolidating. As of this weekend, the Bitcoin to Silver ratio has dropped to 1104, the lowest level since September 2023. Since May, due to silver outperforming Bitcoin significantly, the ratio has fallen by 67%. Meanwhile, the Bitcoin to Gold ratio has decreased to 19, the lowest since November 2023, down 50% from January. In comparison, during the 2022 bear market lows, these two ratios were 680 and 9 respectively.