Bitcoin-Gold Correlation Turns Negative, Hits -0.54 in Short Term

In Brief:

The 30-day BTC-gold correlation dropped to -0.54, its lowest since February.

Longer-term correlations remain positive: 0.39 (90-day) and 0.60 (365-day).

According to data from Glassnode, the short-term correlation between Bitcoin (BTC) and gold has fallen to -0.54 over the past 30 days—marking its lowest level since February. This shift indicates that, in the short term, the two assets are moving in opposite directions more frequently.

While Bitcoin and gold have often shown positive correlation during periods of macro uncertainty, this recent divergence suggests investor behavior and market catalysts may now be affecting them differently.

Despite the short-term decoupling, the 90-day correlation remains at 0.39, and the 365-day correlation sits at 0.60, reflecting an overall longer-term trend of aligned movement.

Analysts will be watching closely to see if the negative short-term divergence persists or reverts as macroeconomic factors—such as inflation expectations, monetary policy, and ETF inflows—continue to shape market sentiment.

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