Bitcoin-Gold Correlation Rises to Nearly Six-Year High as Nasdaq Correlation Falls to One-Year Low The Kobeissi Letter, citing Bitwise Asset Management analysis based on Bloomberg data, said Bitcoin’s 90-day rolling correlation with gold has risen to around +0.50, near its highest level since the 2020 pandemic and more than double its level at the start of the year. Meanwhile, Bitcoin’s 90-day correlation with the Nasdaq 100 has fallen to around +0.30, its lowest in a year. The Kobeissi Letter said the stronger Bitcoin-gold correlation accelerated after the U.S. Treasury announced on Aug. 19 that it would at least double its long-dated Treasury buyback limit from $2 billion to $4 billion per operation, arguing that investors are increasingly viewing both Bitcoin and gold as hedges against currency debasement.