Bitcoin-Gold Correlation Hits Highest Reading in Data Dating to 2014

Bitcoin’s 90-day correlation with gold rose to 54%, the strongest reading in a series beginning in 2014, while its link to the Nasdaq-100 weakened as gold lost ground over the past month. Bitcoin’s 90-day correlation with the Nasdaq-100 stood at 33%, down from 59% in February and close to a one-year low. Its correlation with the U.S. dollar strength index reached its most negative point since early 2023. Gold declined 7% over the past month and briefly dropped below $4,000 an ounce, while Bitcoin was $80,654 at 8:30 p.m. ET Oct. 27 (00:30 UTC Oct. 28).