The Bitcoin-to-gold ratio has reached its lowest point since November 2023, but is still above the previous bear market low.

BlockBeats News, December 29, The Kobeissi Letter reported that while gold, silver, and other precious metals have surged in this round, bitcoin has remained range-bound. As of this weekend, the bitcoin-to-silver ratio has dropped to 1104, the lowest level since September 2023. Since May, as silver has significantly outperformed bitcoin, this ratio has fallen by 67%.

Meanwhile, the bitcoin-to-gold ratio has dropped to 19, the lowest level since November 2023, and is down 50% compared to January.

In contrast, at the bear market lows in 2022, these two ratios were 680 and 9, respectively.