The correlation of Bitcoin with gold significantly increased in April 2025, which may indicate new market trends. According to CryptoQuant, after falling below $80,000 to $3,500 per ounce, this occurred due to increased demand for safe-haven assets amid a weakening dollar and rising uncertainty due to trade wars.
Analysts note that the dollar and Bitcoin have an inverse correlation: the weakening of the former usually contributes to the growth of the latter. Additionally, the decreasing correlation of Bitcoin with stock indices such as S&P 500 and NASDAQ indicates its decoupling from traditional assets. The correlation with gold improved from -0.62 to -0.31, making it a potential leading indicator for Bitcoin. As of April 23, the price of Bitcoin exceeded $94,500, supporting growth forecasts.
