The 2020 signal returns: Why the copper-to-gold breakout could point to bitcoin (BTC) breakout
The post The 2020 signal returns: Why the copper-to-gold breakout could point to bitcoin (BTC) breakout appeared on BitcoinEthereumNews.com. The copper-to-gold ratio has broken above its 200-day moving average for the first meaningful time since September 2020, a development that has historically coincided with the early stages of bitcoin BTC$80,949.32 bull markets. The ratio currently stands at 0.00142, with copper trading at $6.65 per pound and gold near $4,700 per ounce. Previous surges in the ratio during 2013, 2017, and 2021 aligned with major gains in bitcoin prices. The correlation coefficient between bitcoin and the copper-to-gold ratio currently sits at -0.11, though it has rebounded sharply from -1.00. This suggests the two assets are not yet positively correlated, but the relationship is beginning to strengthen. Historically, during bitcoin’s strongest bull runs, the correlation has moved toward or above 1.0. The current negative reading largely reflects the earlier divergen