Copper Price Rebound Sparks Debate on Crypto Market Sentiment

Cryptocurrency market analysts are weighing in on a recent rebound in the copper-to-gold ratio, which may signal shifting investor sentiment towards risk-on assets.

According to TradingView data shared by analyst Michaël van de Poppe, the copper-to-gold ratio has gained 8.24% during the session, trading near 0.00141. This move marks a continuation of the trend's upward momentum, but it remains below its long-term moving average.

The Relative Strength Index (RSI) is also showing signs of improvement, having moved towards neutral territory from a near oversold level. Trading volume has increased during the rebound, indicating larger participation in the market.

Van de Poppe drew comparisons between the copper-to-gold ratio and the $ETH/$BTC trading pair, noting similar long-term structures. He attributed the recent gold rally to investor demand for safe-haven assets, while copper's downturn lasted nearly five years.