Data: The Bitcoin-to-gold ratio has fallen to 19, the lowest since November 2023.
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TL;DR
The Bitcoin-to-gold ratio has dropped to 19, its lowest since November 2023, while the Bitcoin-to-silver ratio hit a new low of 1,104 since September 2023, indicating precious metals are outperforming Bitcoin.
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According to ChainCatcher, The Kobeissi Letter reports that the ratio of Bitcoin to precious metals has recently dropped significantly.
The Bitcoin-to-silver ratio has fallen to 1,104, a new low since September 2023, down 67% since May, indicating that silver has significantly outperformed Bitcoin. Meanwhile, the Bitcoin-to-gold ratio has fallen to 19, its lowest since November 2023, down 50% since January of this year. In comparison, at the bear market lows of 2022, these ratios were 680 and 9, respectively.