Ethereum

Bitcoin

<h2 id="quick-take">Quick Take</h2>
The U.S. dollar, reigning as the global reserve currency, has been the standard benchmark for valuing all assets. However, an intriguing shift occurs when we start benchmarking financial assets against Bitcoin instead of the traditional USD.
Take the U.S. long bond (TLT) as an example, which is currently trading at approximately $84. It would require a hefty sum of 411 TLT to match the value of a single Bitcoin, trading around $34,500. This ratio underscores a significant<a href="https://cryptoslate.com/insights/convergence-in-drawdowns-of-bitcoin-and-u-s-long-bonds-as-tlt-plunges/" rel="noopener noreferrer nofollow"> drawdown for TLT</a> compared to Bitcoin, even more so when considering that in the 2021 bull run, the ratio was 432 TLT to one Bitcoin.
<figure id="attachment_369275" aria-describedby="caption-attachment-369275" style="width: 100%" class="wp-caption aligncenter"><img class="wp-image-369275 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/TLT1.png" alt="BTC/TLT: (Source: TradingView)" width="1410" height="893" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/TLT1.png 1410w, https://cryptoslate.com/wp-content/uploads/2023/10/TLT1-300x190.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/TLT1-1024x649.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/TLT1-768x486.png 768w" sizes="(max-width: 1410px) 100vw, 1410px">
 <figcaption id="caption-attachment-369275" class="wp-caption-text">
 BTC/TLT: (Source: TradingView)
 </figcaption>
</figure>
Similarly, when dissecting the Ethereum-Bitcoin relationship, it’s evident that the dynamics are changing. With Ethereum currently trading at just over $1,800, it would take a little over 19 Ethereum to equate to 1 Bitcoin. This<a href="https://cryptoslate.com/insights/ethereum-bitcoin-ratio-inches-closer-to-0-05/" rel="noopener noreferrer nofollow"> ETH/BTC ratio</a>&nbsp;continues to trend downwards, signaling a potential shift in the crypto hierarchy.
This unconventional method of asset denomination reveals a different perspective on the value of financial assets and may be a presage of a broader transformation in the financial realm sparked by the rise of cryptocurrency.
<figure id="attachment_369278" aria-describedby="caption-attachment-369278" style="width: 100%" class="wp-caption aligncenter"><img class="wp-image-369278 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/BTCETH.png" alt="BTC/ETH: (Source: TradingView)" width="1410" height="893" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/BTCETH.png 1410w, https://cryptoslate.com/wp-content/uploads/2023/10/BTCETH-300x190.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/BTCETH-1024x649.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/BTCETH-768x486.png 768w" sizes="(max-width: 1410px) 100vw, 1410px">
 <figcaption id="caption-attachment-369278" class="wp-caption-text">
 BTC/ETH: (Source: TradingView)
 </figcaption>
</figure>
The post <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com/insights/bitcoins-ratio-to-the-u-s-long-bond-is-nearing-all-time-highs/">Bitcoin’s ratio to the U.S. long bond is nearing all-time highs</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com">CryptoSlate</a>.

Bitcoin’s ratio to the U.S. long bond is nearing all-time highs

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