On December 29th, The Kobeissi Letter reported that while precious metals such as gold and silver have seen a recent surge, Bitcoin has been trading sideways. As of the end of the week, the Bitcoin-to-silver ratio has fallen to 1104, the lowest level since September 2023. Since May, this ratio has dropped by 67% due to silver's significantly outperforming Bitcoin.
Meanwhile, the Bitcoin-to-gold ratio has fallen to 19, the lowest level since November 2023, down 50% from January.
In contrast, at the trough of the 2022 bear market, these two ratios were 680 and 9, respectively.



