Bitcoin trails silver and gold as AI-driven metal demand reshapes capital flows in 2025

In 2025, Bitcoin has come under pressure as capital shifts toward metals, even as the U.S. dollar weakens and risk assets typically benefit. Over roughly 13 months, silver has gained about 270% while Bitcoin has fallen 11%, and the BTC/Gold ratio has dropped to a multi-year low of 17.35/oz. Analysts link this divergence to AI-related investment, with AI data center spending rising 14% to over $270 billion and expectations that copper demand for AI infrastructure could jump 127% to 2.5 million tonnes by 2040.