المنشور

#BTCGoldCorr+0.50 BTC’s relationship with gold is getting harder to dismiss—but I still wouldn’t call it “digital gold” based on one correlation window 👀 Bitwise, using Bloomberg data, puts their 90-day rolling correlation near +0.50 as of August 31. That’s close to 2020 highs and only the second move above 0.5 since 2015. Meanwhile, BTC’s correlation with the Nasdaq fell to roughly 0.30, a one-year low. What caught my attention is that this shift happened alongside almost $987M of weekly spot ETF inflows and plans for larger Treasury long-bond buybacks 🥇 Still, CryptoQuant shows five-year holders spending about 1,500 BTC on a 90-day average. New demand is arriving while older supply is gradually moving. To me, the real test isn’t whether BTC follows gold during one uncertain period. It’s whether that link survives when yields, equities and risk appetite move in different directions again.