Lumber to gold ratio breaks down, suggesting a risk-off environment

2023-3-31 19:49

Quick Take So far, 2023 has been a good year for Bitcoin and risk assets, with Bitcoin up 71%, Nvidia up 92%, and Meta up 68%. The S&P 500 is up 7% while the Nasdaq is up 20% However, the lumber-to-gold ratio indicates a risk-off environment, and the stock market has always followed a crash.

Highlighted are the areas where 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 Crash 2018 4Q Correction 2020 Covid Crash

As Bitcoin is somewhat correlated to the US stock market this could mean further headwinds for Bitcoin.

Lumber to Gold Ratio: (Source: Trading View)

The post Lumber to gold ratio breaks down, suggesting a risk-off environment appeared first on CryptoSlate.

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