BTC to silver ratio nears levels last seen during the FTX capitulation

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The bitcoin/silver ratio falls back to 780, close to the levels observed during the 2022 capitulation, and below those of the 2017 BTC ATH, indicating a possible inflection of relative value. Silver shows an increase close to 300% over a year, with extreme volatility and a rapid drop of 15% last night, typical behaviors of the end-of-cycle phases. Historical silver peaks are concentrated mostly in the first half of the year, reinforcing the scen…