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Bitcoin-Gold Correlation Rises to Nearly Six-Year High as Nasdaq Correlation Falls to One-Year Low The Kobeissi Letter, citing Bitwise Asset Management analysis based on Bloomberg data, said Bitcoin's 90-day rolling correlation with gold has risen to around +0.50, near its
Bitcoin's 90-day rolling correlation with gold has risen to around +0.50, near a six-year high, while its correlation with the Nasdaq has fallen to a one-year low, according to The Kobeissi Letter citing Bitwise Asset Management analysis based on Bloomberg data.
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What happened
Bitcoin's 90-day rolling correlation with gold has risen to around +0.50, near a six-year high, while its correlation with the Nasdaq has fallen to a one-year low, according to The Kobeissi Letter citing Bitwise Asset Management analysis based on Bloomberg data.
Confirmed
Global impact / market context
Bitcoin is now moving more in step with gold, often seen as a safe-haven asset, and less with tech stocks like those in the Nasdaq, which may change how investors view Bitcoin as a diversifier in their portfolios.
Analyst inference
This shift suggests investors may be treating Bitcoin more like a store of value, similar to gold, than as a high-growth tech play, which could influence demand for Bitcoin and its role in investment strategies.
Analyst inference
What to watch
- Continue monitoring Bitcoin's 90-day rolling correlation with gold and the Nasdaq each week, as these figures are updated based on latest data and show how relationships change over time. Confirmed
- Investors could compare Bitcoin and gold price movements during market stress periods, using their daily percentage changes, to see if the higher correlation holds up in real-time. Proposed
- Watch whether the Bitcoin-gold correlation continues to rise above +0.50, which may signal a lasting shift in market positioning, potentially affecting demand from large investors seeking stable assets. Analyst inference
Affected assets
- BTC — Bitcoin