Copper-Gold Ratio Signal Indicating the Next Turning Point in Bitcoin Market and Changes in Whale Selling Pressure

Points Summary

• How the RSI of Copper/Gold ratio suggests market bottoming signals
• The slowdown in large holder (whale) selling pace and why this is a tailwind for the bullish camp
• Amid predictions of a “cryptocurrency winter” in 2026, market outlooks are divided

The movement in metal markets may be a leading indicator for Bitcoin prices

There is an interesting pattern pointed out by crypto analyst Lark Davis. The hypothesis is that the price trends of gold and silver serve as signals predicting the direction of the crypto asset market.

Currently, Bitcoin’s USD price is moving within a narrow range. At the same time, gold and silver are beginning to show an upward trend. Focusing on the correlation among these asset classes reveals an intriguing liquidity landscape.

Profits taken from gold and silver by investors may shift into cryptocurrencies as the next investment destination. If this scenario materializes, it could become a key trigger supporting a market rise in 2026.

The RSI of Copper/Gold ratio is forming a bottoming signal

What’s notable in Lark Davis’s analysis is the pattern where Bitcoin prices tend to rise when the RSI of the Copper/Gold ratio tests the bottom zone again. Interestingly, this cycle has also been observed during recent sharp declines in Bitcoin.

If past patterns repeat, there is a high probability that Bitcoin will rebound in 2026. Multiple fundamental factors also support this optimistic scenario.

Whale (large holder) selling pressure is easing

Throughout 2025, large addresses known as whales have been observed selling large amounts of Bitcoin. The selling pace particularly accelerated in December.

However, the latest on-chain data suggests that this wave of selling has come to a halt. In other words, long-term holders are no longer engaging in large-scale profit-taking.

This phenomenon holds significant implications for market psychology. The disappearance of sustained selling pressure from long-term investors indicates conditions are aligning for market support. However, for the bulls to gain the upper hand, visible buying demand is essential.

The timing of the slowdown in whale selling also aligns with the previously mentioned gold/silver ratio pattern. Still, several additional conditions are needed for Bitcoin to enter a full-fledged upward phase.

In particular, the realization of buying demand from institutional investors and large players like whales is crucial. However, the latest market data shows that whale activity remains sluggish, and institutional money is flowing out.

Concerns about the crypto winter continuing into 2026 remain

The current market situation clearly reflects a split in investor sentiment. While technical indicators and chain data paint an optimistic picture, the possibility of further downside cannot be ignored.

Some market observers still point to the potential for Bitcoin to decline further. Media outlets like Barron’s have expressed views that the market may enter a prolonged “crypto winter” phase extending into 2026.

Past crypto winters have been characterized by demand droughts, downward price pressures, and stagnation in chain activity. The current market conditions strongly reflect these traits.

Additionally, the scenario of a crypto winter in 2026 implies that the four-year cycle is still in an early stage. This contradicts some expectations of a market transition into a “super cycle.”

Overall market sentiment remains dominated by excessive fear. Weak buying demand layered on this could mean the market is not yet ready for a significant rally. However, new market dynamics may start to emerge as early as January.

The pervasive uncertainty in market direction suggests that many investors will likely adopt a wait-and-see approach until clearer signals are received from the market.