At the same time, the Bitcoin to gold ratio fell to 19 marking its lowest level since November 2023 and a 50% decline from January. By comparison during the 2022 bear market lows, the ratios stood at 680 and 9 respectively

Since May, the Bitcoin to silver ratio has declined by 67% driven by silver’s strong outperformance relative to Bitcoin during the same period

According to The Kobeissi Letter on December 29 while precious metals such as gold and silver have surged recently, Bitcoin has remained largely range bound. As a result, the Bitcoin to silver ratio dropped to 1,104 its lowest level since September 2023