BTC's 90-Day Correlation with Gold Rises to 0.56, Hitting a New High Since 2017

The 90-day price correlation between BTC and gold has risen to 0.56, surpassing the 0.50 recorded in November 2020, marking a new high since 2017. During the same period, the 90-day correlation between BTC and the Nasdaq 100 has dropped to about 0.30, reaching a one-year low. In the 30-day window, the correlation between BTC and gold further increased to 0.72, while the correlation with the Nasdaq Composite Index was only about 0.22. Since August, the flow of funds surrounding the "currency devaluation trade" has reinforced BTC's narrative as "digital gold."

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