Bitcoin and Gold Show a 90-Day Correlation of Over 50%
2026-08-28 22:06:58
According to CoinMeta, the 90-day correlation between Bitcoin and gold has exceeded 50%, while the correlation with NASDAQ has dropped to around 33%. This change indicates that Bitcoin's trading behavior in times of macroeconomic uncertainty is moving closer to that of gold. Bitcoin's recent rebound has seen its price rise from approximately $62,679 on August 17 to $79,500 on August 21, an increase of about 27%. At the same time, the weekly spot Bitcoin ETF inflow reached around $1.9 billion, indicating a resurgence in institutional demand. The total amount of U.S. Treasury bonds surpassed $40 trillion on August 18, and the fiscal deficit is expected to reach around $1.9 trillion, all of which have contributed to increased interest in scarce assets.
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Source:Coinpaper
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