Bitcoin and Gold Correlation Turns Negative after Six Months

The correlation between Bitcoin and gold has flipped to negative, signifying a significant shift in investor behavior. Recent data from Glassnode reveals that this divergence is marked by a -0.53 correlation coefficient over a 30-day period, a departure from the usual positive correlation observed during market volatility. This sudden change challenges Bitcoin’s ‘digital gold’ narrative, as it paints a picture of differing crisis behaviors between digital and traditional assets. )