📊 Bitcoin-gold correlation hits a six-year high

📊 Bitcoin-gold correlation hits a six-year high

Background
🔹 According to a Bitwise report, the 90-day correlation coefficient between Bitcoin and gold has reached its highest level since 2020
🔹 This level of correlation was last recorded during the period of liquidity injections and economic stimulus in the COVID era

Focus
🔗 Alongside the jump in its correlation with gold, Bitcoin's correlation with the stock index has fallen to a one-year low
🏦 US Treasury financial interventions and growing debt are the main reasons investors are seeking refuge in safe assets
🔄 Current market behavior shows Bitcoin is once again playing the role of "digital gold" against the dollar's decline

Implications
🛡 Rather than choosing between gold and Bitcoin, institutional investors are holding both assets in their portfolios at the same time
⚖️ If this trend continues, it could shift Bitcoin's demand profile from a risk asset to a store of value

Conclusion
✨ The rising correlation between Bitcoin and gold signals that the market is entering a new phase of hedging against global inflation 📊

#Bitcoin #Gold #Bitwise #Macroeconomics