TLDR:
- Bitcoin’s 90-day correlation with gold reached +0.50, more than doubling from early 2026 levels.
- Bitcoin’s Nasdaq 100 correlation fell to about 0.30, marking its lowest level in one year.
- The correlation surge accelerated after Treasury debt buybacks doubled to at least $4 billion.
- Gold and Bitcoin are drawing attention as scarce assets amid currency and fiscal concerns.
Bitcoin and gold are moving closer together as investors shift toward scarce assets amid growing fiscal and currency concerns. The 90-day correlation between Bitcoin and gold has reached +0.50, more than doubling since the start of 2026.
At the same time, Bitcoin’s correlation with the Nasdaq 100 has fallen to about 0.30, marking a one-year low. The divergence signals a sharp change in how BTC has traded alongside traditional markets this year.
Bitcoin Gold Correlation Reaches +0.50
The Kobeissi Letter reported that Bitcoin’s 90-day correlation with gold now stands at +0.50. The figure nearly matches the record reached during the 2020 pandemic.
The current reading has more than doubled from the start of 2026. After the 2022 bear market recovery, Bitcoin’s 90-day correlation with gold reached only +0.30.
Bitwise and Bloomberg data through August 31 also put the Bitcoin gold correlation at +0.50. The data shows the relationship has strengthened considerably in recent months.
The shift accelerated after the US Treasury announced changes to its long-dated debt buyback operations. On August 19, the Treasury said it would double buybacks from $2 billion to at least $4 billion per operation.
Bitcoin Correlation With Nasdaq Falls to One-Year Low
Bitcoin’s relationship with the Nasdaq 100 has moved in the opposite direction. The 90-day correlation has declined to roughly 0.30, according to the Kobeissi Letter.
That marks Bitcoin’s lowest correlation with the Nasdaq 100 in one year. The divergence puts greater focus on BTC’s relationship with gold and other scarce assets.
Investors increasingly view both Bitcoin and gold as potential hedges against currency debasement. US debt has reached about $40 trillion, adding to concerns surrounding long-term fiscal pressures.
Gold has also attracted central-bank demand amid geopolitical uncertainty. The Netherlands, for example, moved 86 tonnes of gold to London, reflecting continued activity around the traditional reserve asset.
Crypto Tice separately argued that gold’s recent pause could precede greater attention toward Bitcoin. Its analysis points to previous periods when profits from gold shifted toward BTC after gold reached new highs.
Gold currently trades near $4,430 per ounce, while Bitcoin hovers around $81,000. The two assets now show a much closer 90-day price relationship than earlier this year.
The post Bitcoin Gold Correlation Climbs to 0.50 as Nasdaq Link Hits Yearly Low appeared first on Blockonomi.
Source: https://blockonomi.com/bitcoin-gold-correlation-climbs-to-0-50-as-nasdaq-link-hits-yearly-low/
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