Share
Share this article
Copy linkX (Twitter)LinkedInFacebookEmail
Markets
Share
Share this article
Copy linkX (Twitter)LinkedInFacebookEmail
Copper, gold and bitcoin: A macro signal to
Markets
Share
Share this article
Copy linkX (Twitter)LinkedInFacebookEmail
Copper, gold and bitcoin: A macro signal to
Copper, gold and bitcoin: A macro signal to watch
5 min read
Copper, gold and bitcoin: A macro signal to watch
The copper-to-gold ratio is breaking higher, a move that has historically aligned with key turning points in bitcoin cycles.
By James Van Straten|Edited by Sheldon Reback
Jan 6, 2026, 10:13 a.m.
The copper price is near record highs, a signal of economic expansion. (stux/Pixabay modified by CoinDesk)
What to know:
- A rising copper-to-gold ratio signals a shift toward risk-on conditions and has historically preceded major bitcoin rallies after prolonged downtrends.
- The ratio has now broken out from a yearslong decline. Copper’s recent outperformance versus gold may support a bitcoin rally into 2026.
The copper-to-gold ratio is widely followed as a macro indicator of economic momentum and investor risk appetite. Historically, it has shown a notable relationship with bitcoin BTC$93,549.01, according to SuperBitcoinBro.
Copper is heavily tied to industrial demand and tends to perform well during periods of economic expansion. Gold, in contrast, is a defensive asset that typically outperforms during periods of greater uncertainty and slower growth.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Sign me up
When the ratio between the two is rising, it signals a risk-on environment, while a falling ratio points to risk aversion.
Major peaks in the ratio, seen in 2013, 2017 and 2021, have coincided with cycle highs in bitcoin prices. These periods reflected strong global growth expectations and elevated speculative risk taking across assets.
Copper/Gold Ratio (@SuperBitcoinBro)
More importantly for bitcoin, however, has been the behavior of the ratio after prolonged declines. A reversal in the ratio has often preceded significant bitcoin rallies, particularly when they align with bitcoin halving cycles.
Bitcoin halvings, which reduce the payout to miners by 50%, occur roughly every four years and tighten supply. Historically they have acted as a catalyst for longer term bull markets.
During the fourth bitcoin halving, in April 2024, the copper-to-gold ratio was still dropping. That dynamic has since shifted. The ratio now sits near 0.00136 after bottoming in October around 0.00116.
At the same time, copper prices are pushing through $6 per pound at all time highs, while gold trades near $4,455 per ounce, also close to its record. Over the past three months, copper has gained 18% and gold 14%.
If copper’s strength reflects improving growth expectations rather than purely supply constraints, the resulting risk on signal could support a bitcoin rally in 2026.
Bitcoin NewsGoldCopper
More For You
KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market
Commissioned byKuCoin
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
View Full Report
More For You
U.S. national debt reaches new high of $38.5 trillion
High debt levels and potential fiscal dominance could lead to lower interest rates, benefiting assets like bitcoin and gold.
What to know:
- The U.S. national debt has jumped to $38.5 trillion, with a debt-to-GDP ratio over 120%.
- Over 70% of the debt is owed to domestic lenders, and interest payments now exceed $1 trillion annually.
- High debt levels and potential fiscal dominance could lead to lower interest rates, benefiting assets like Bitcoin and gold.
Read full story
Latest Crypto News
U.S. national debt reaches new high of $38.5 trillion
Infinex revises fundraising structure, replaces $5 million raise plan with fair allocation model
Here’s why bitcoin and major tokens are seeing a strong start to 2026
XRP rockets 11% to nearly $2.40 as Ripple-linked ETFs see highest trading volumes
Sui outperforms bitcoin and ether as Mysten Labs promotes privacy tech
Dogecoin 2x ETF tops early 2026 leaderboard as DOGE prints V-shaped rebound
Top Stories
Here’s why bitcoin and major tokens are seeing a strong start to 2026
XRP rockets 11% to nearly $2.40 as Ripple-linked ETFs see highest trading volumes
Sui outperforms bitcoin and ether as Mysten Labs promotes privacy tech
A few Republicans have crypto's destiny in their hands at the SEC, CFTC
Dogecoin 2x ETF tops early 2026 leaderboard as DOGE prints V-shaped rebound
Famed Coinbase backer Fred Wilson predicts 2026 UX pivot for crypto
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
Top Solana Treasury Firm Forward Industries Unveils $4 Billion Capital Raise To Buy More SOL ⋆ ZyCrypto
The post Top Solana Treasury Firm Forward Industries Unveils $4 Billion Capital Raise To Buy More SOL ⋆ ZyCrypto appeared on BitcoinEthereumNews.com. Advertisement     Forward Industries, the largest publicly traded Solana treasury company, has filed a $4 billion at-the-market (ATM) equity offering program with the U.S. SEC to raise more capital for additional SOL accumulation. Forward Strategies Doubles Down On Solana Strategy In a Wednesday press release, Forward Industries revealed that the 4 billion ATM equity offering program will allow the company to issue and sell common stock via Cantor Fitzgerald under a sales agreement dated Sept. 16, 2025. Forward said proceeds will go toward “general corporate purposes,” including the pursuit of its Solana balance sheet and purchases of income-generating assets. The sales of the shares are covered by an automatic shelf registration statement filed with the US Securities and Exchange Commission that is already effective – meaning the shares will be tradable once they’re sold. An automatic shelf registration allows certain publicly listed companies to raise capital with flexibility swiftly. Kyle Samani, Forward’s chairman, astutely described the ATM offering as “a flexible and efficient mechanism” to raise and deploy capital for the company’s Solana strategy and bolster its balance sheet. Advertisement   Though the maximum amount is listed as $4 billion, the firm indicated that sales may or may not occur depending on existing market conditions. “The ATM Program enhances our ability to continue scaling that position, strengthen our balance sheet, and pursue growth initiatives in alignment with our long-term vision,” Samani said. Forward Industries kicked off its Solana treasury strategy on Sept. 8. The Wednesday S-3 form follows Forward’s $1.65 billion private investment in public equity that closed last week, led by crypto heavyweights like Galaxy Digital, Jump Crypto, and Multicoin Capital. The company started deploying that capital this week, announcing it snatched up 6.8 million SOL for approximately $1.58 billion at an average price of $232…
Share
BitcoinEthereumNews2025/09/18 03:42
Fed Lowers Rates By 25bps: How Bitcoin And Crypto Prices Responded And What’s Next
The Federal Reserve (Fed) announced its first interest rate cut of the year, leading to an immediate reaction in the cryptocurrency market. Bitcoin (BTC) experienced a notable decline, dropping below the $115,000 threshold shortly after the announcement. Expert Predicts Crypto Rally Fed Chair Jerome Powell addressed the current economic landscape, noting that while inflation has […]
Share
Bitcoinist2025/09/18 03:11
XRP Price Outlook As Peter Brandt Predicts BTC Price Might Crash to $42k
The post XRP Price Outlook As Peter Brandt Predicts BTC Price Might Crash to $42k appeared on BitcoinEthereumNews.com. XRP price led cryptocurrency losses on Friday
Share
BitcoinEthereumNews2026/02/06 19:06