“The copper-to-gold ratio is breaking higher, a move that has historically aligned with key turning points in bitcoin cycles.”, — write: www.coindesk.com
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.
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.
KuCoin captured a record share of centralized exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the broader crypto market.
- KuCoin recorded over $1.25 trillion in total trading volume in 2025equivalent to an average of roughly $114 billion per monthmarking its strongest year on record.
- This performance translated into an all-time high share of centralized exchange volumeas KuCoin’s activity expanded faster than aggregate CEX volumeswhich slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly spliteach exceeding $500 billion for the year, signaling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activityreinforcing 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 activityindicating structurally higher user engagement rather than short-lived volume spikes.
View Full Report
High debt levels and potential fiscal dominance could lead to lower interest rates, benefiting assets like bitcoin and gold.
- The US 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