Bitcoin’s 30-day and 90-day correlations with gold measure the strength and direction of their price relationship.

Bitcoin’s correlation with gold has fluctuated over the past three years. The 30-day and 90-day correlation indicators show intermittent peaks and troughs, indicating differences in the degree of correlation between Bitcoin and gold prices.

Bitcoin prices experienced significant fluctuations from January 2021 to mid-2024, including a surge to over $60,000 in late 2021, followed by a sharp decline in 2022 and a rebound after 2023. During this period, the 30-day and 90-day correlations frequently diverged, reflecting Bitcoin’s unique volatility as a representative cryptocurrency, in stark contrast to gold’s stability.

At the end of the first quarter of 2024: The correlation between Bitcoin and gold showed an upward trend, with both the 30-day and 90-day correlations close to 1. This period coincided with Bitcoin reaching new highs in March 2024 ahead of expectations of production cuts, and gold prices subsequently rose in May.

Recent Decoupling: Over the past 30 days, however, the link between Bitcoin and gold has become increasingly weaker, similar to the trend recently observed between Bitcoin and the S&P 500.