The Bitcoin-to-gold ratio has fallen to 19 as of December 29, 2025, marking its lowest point since November 2023, according to The Kobeissi Letter. This represents a 50% decline from its January 2025 level, yet it remains above the 2022 bear market low of 9. Similarly, the Bitcoin-to-silver ratio has decreased to 1104, the lowest since September 2023, and is down 67% from its peak in May 2025. These shifts in macro asset correlations could influence altcoin market dynamics.