Bitcoin Decouples From Gold, But Long-Term Correlation Intact

Kraken has identified a decreasing correlation between Bitcoin and the legacy financial markets. A report published by major U.S.-based crypto exchange Kraken has identified signs the correlation between Bitcoin (BTC), the greenback, and legacy markets, is continuin to weaken.Kraken’s September volatility report found Bitcoin (BTC) largely maintaining a negative correlation with the U.S. Dollar Index (DXY) since May, despite a brief coalescence between the two markets in early September. Bitcoin's 30-day rolling correlation with U.S Dollar Index: KrakenThe report attributes BTC’s dollar....

Bitcoin has been trading in close tandem with equities throughout the past several days Heightened correlation to risk-on assets is a common BTC trait during times of immense global turbulence Although this strikes a blow to its safe-haven narrative, the cryptocurrency still has a long way to go before it fully decouples with the traditional markets This global economic turbulence that is weighing on Bitcoin may only get worse as the year drags on and […]

Data shows the correlation between Bitcoin and Gold has turned negative, a sign that the two assets are moving in the direction opposite to each other. Correlation Coefficient Is Now Underwater For Bitcoin & Gold In a new post on X, CryptoQuant community analyst Maartunn has talked about the latest trend in the Correlation Coefficient between Bitcoin and Gold. The Correlation Coefficient is a tool from statistics that measures the relationship between two given variables over a given period, typically one month. In the current case, the variables are the prices of BTC and Gold. Related....

Investors should keep an eye on the tight inverse correlation between the strength of the U.S. dollar and Bitcoin. A widespread debate among investors is the correlation of Bitcoin (BTC) with other markets. A high degree of correlation between the equity markets and Bitcoin has existed, particularly in the last few months. In other periods, gold and Bitcoin appear to move in tandem.However, the correlation that should be watched the most is the dollar since the global economy is based on the strength or weakness of our world reserve currency, the United States dollar.Weaker USD drove up....

Bitcoin decoupled with the stock market and saw its correlation with gold rise to a level not seen since last year. Bitcoin (BTC) and gold are no longer investors’ primary choices as inflation hedges amid the strengthening United States dollars. The current turmoil in financial markets added to the geopolitical tensions has run havoc on the majority of the assets that investors prefer to invest in during times of financial crisis.Bitcoin has lost nearly 70% of its market cap since the market top last year while gold, which strengthened its position in the first quarter of the year despite....