🚨 Is Bitcoin looking more and more like “digital gold”? 🔥
Bitwise’s latest view points out that the 90-day correlation between Bitcoin and gold has risen to its highest level in nearly six years. Even more interesting, BTC recently surged 22.4% in a single week, gold also strengthened at the same time, while the stock market weakened instead.
In plain terms: markets used to treat BTC as a risk asset, but now it and gold are starting to look more and more like a pair of “safe-haven brothers.” 💰🪙
There is another detail worth noting: as of the end of August, BTC was negatively correlated with the U.S. dollar index. Simply put, when the dollar weakens, both gold and BTC may attract more investor attention.
This is somewhat similar to the market environment in 2020 — back then, global liquidity was released massively, and both gold and BTC were sought after by capital.
📌 In one sentence: BTC is gradually strengthening its “digital gold” attribute, and in the future, the dollar trend and global liquidity may become increasingly worth watching. 🚀$BTC $XAU $ARB
Bitwise’s latest view points out that the 90-day correlation between Bitcoin and gold has risen to its highest level in nearly six years. Even more interesting, BTC recently surged 22.4% in a single week, gold also strengthened at the same time, while the stock market weakened instead.
In plain terms: markets used to treat BTC as a risk asset, but now it and gold are starting to look more and more like a pair of “safe-haven brothers.” 💰🪙
There is another detail worth noting: as of the end of August, BTC was negatively correlated with the U.S. dollar index. Simply put, when the dollar weakens, both gold and BTC may attract more investor attention.
This is somewhat similar to the market environment in 2020 — back then, global liquidity was released massively, and both gold and BTC were sought after by capital.
📌 In one sentence: BTC is gradually strengthening its “digital gold” attribute, and in the future, the dollar trend and global liquidity may become increasingly worth watching. 🚀$BTC $XAU $ARB
