Fast Take
- To date, 2023 has been a superb 12 months for Bitcoin and threat belongings, with Bitcoin up 71%, Nvidia up 92%, and Meta up 68%.
- The S&P 500 is up 7% whereas the Nasdaq is up 20%
- Nevertheless, the lumber-to-gold ratio signifies a risk-off setting, and the inventory market has at all times adopted a crash.
Highlighted are the areas the place the lumber-to-gold ratio collapsed, and subsequently, the S&P 500 went down.
- 1987 Crash
- 1990 Bear Market
- 2000 Tech Bubble
- 2008 Lehman Crash
- 2011 Summer time Crash
- 2018 4Q Correction
- 2020 Covid Crash
As Bitcoin is considerably correlated to the US inventory market this might imply additional headwinds for Bitcoin.
The submit Lumber to gold ratio breaks down, suggesting a risk-off setting appeared first on CryptoSlate.
