Correlation Between Bitcoin and Gold Rises to 0.68
The price correlation between Bitcoin (BTC) and gold has recently strengthened, with the correlation coefficient rising from 0.17 in 2020 to 0.43 this year. In the last 30 days, the correlation coefficient reached 0.68. Adam Livingston, Vice President of Strive Investments, explained that the two assets can be viewed not as opposing investment targets but as different exits from the same system. Bitcoin is traditionally seen as a risky asset, while gold is considered a safe haven. However, as the price directions of the two assets have become closer, this distinction is blurring. Currently, gold is trading at approximately $4,326, while Bitcoin is trading at around $75,500. The yield on the U.S. 10-year Treasury bond briefly exceeded 5% before falling again, and both Bitcoin and gold, which are non-yielding assets, may face price pressure from rising bond yields and a strong dollar. The recent increase in the correlation between Bitcoin and gold indicates a significant change in the relationship between the two assets, with some market participants evaluating that Bitcoin is moving like 'digital gold.'
-- Price
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[Column] Which Coins Strengthen as Prices Rise

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