Bitcoin’s Correlation With Nasdaq Drops to 33% From 60%; Gold Link Tops 50%
Minseung Kang
Summary
- Bitcoin’s correlation with the Nasdaq has fallen to about 33% from more than 60%.
- Bitcoin’s correlation with gold has risen above 50%.
- Bitcoin has recently shown a stronger tendency to move in line with gold than with tech stocks and other risk assets.
Forecast Trend Report by Period
Bitcoin is increasingly diverging from the Nasdaq while moving more closely in line with gold.
Crypto data analysis account Unfolded wrote on X on September 1 that Bitcoin’s correlation with the Nasdaq has recently fallen to about 33% from more than 60%.
By contrast, Bitcoin’s correlation with gold has risen above 50%. That indicates Bitcoin has recently been showing price movements more similar to gold than to tech stocks and other risk assets.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.