Essential Insights
Recent data from Glassnode reveals that Bitcoin’s correlation with gold over the past month has dipped to -0.53. This marks a notable shift from its longer-term correlation, which stands at a positive 0.65 over the last year.
According to blockchain analytics company Glassnode, Bitcoin’s correlation with gold in the short term has shifted into negative territory, now sitting at -0.53 for a 30-day period.
This change signifies a break from Bitcoin’s historical relationship with gold, which continues to show a modestly positive correlation of 0.65 when assessed over the span of one year.
The emergence of this negative correlation suggests that in recent weeks, Bitcoin and gold have been trending in opposite directions—contrasting sharply with their previously aligned price movements during times of market volatility.