Bitcoin-Gold correlation update:
📉 Key Insight: Correlation Drop
• 30-day BTC-Gold correlation: -0.54
• Indicates a moderate inverse relationship in the short term.
• Lowest level since February, per Glassnode data via PANews.
• 90-day correlation: +0.39
• 365-day correlation: +0.60
• Longer-term correlations remain positive, showing Bitcoin and gold still generally trend together over time.
💡 What This Means:
• The short-term decoupling suggests Bitcoin is currently behaving more like a risk asset rather than a traditional store of value like gold.
• Macro factors (e.g., monetary policy shifts, tech sector volatility, or institutional rotation) could be influencing this divergence.
• The longer-term positive correlation shows BTC still shares characteristics with gold, possibly due to hedging behavior or inflation narratives.
