Getting informedโชBitcoin (BTC)
Bitcoinโs original promise was rebellion: digital gold, a hedge against inflation, a way out of the fiat system. But if the latest Binance Research report is any indication, it may be playing a different role today: not fighting the dollar, but backing it.
In brief
Bitcoinโs correlation with the U.S. dollar has flipped positive, hitting its highest level in years at 0.25, suggesting BTC is now moving with the dollar, not against it.
Institutional flows into Bitcoin ETFs and the surge in stablecoins (now $250B+) are tying crypto markets even closer to USD liquidity.
Binance says BTC is no longer acting as a hedge, but as a macro asset aligned with risk cycles and dollar strength.