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. 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.