🚨BULLISH: Bitcoin's 90-day correlation with gold just climbed to +0.50, its highest level in nearly SIX YEARS. The last time it was this high was 2020, during the Covid stimulus era. At the same time, Bitcoin's correlation with the Nasdaq fell to around 0.30, a 1-year low, breaking the idea that it's just a leveraged tech bet. The shift followed the Treasury's move to ramp up buybacks of long-dated debt, which sent Bitcoin up 22.4%, its biggest weekly gain since March 2024, moving in lockstep with gold. Gold is a $30 TRILLION market. If Bitcoin keeps trading like it, the capital that prices gold could start pricing Bitcoin too, per Bitwise.
Coin BureauShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.