Analysis: copper-to-gold ratio fell to the lowest point since November 2020 this month, BTC may experience downward Fluctuation

robot
Abstract generation in progress

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)

BTC2.23%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)