Onchain Highlights
DEFINITION: The correlation between Bitcoin and gold over 30-day and 90-day periods measures the strength and direction of their price relationship.
Bitcoin’s correlation to gold has exhibited fluctuating trends over the past three years. The 30-day and 90-day correlation metrics show intermittent peaks and troughs, indicating varying degrees of correlation between Bitcoin and gold prices.
From January 2021 to mid-2024, Bitcoin’s price saw significant movements, including a sharp rise to over $60,000 in late 2021, followed by a sharp decline into 2022 and subsequent recovery post-2023. During these periods, the 30-day and 90-day correlations often diverged, reflecting the flagship crypto’s unique volatility compared to gold.
At the end of the first quarter of 2024, Bitcoin’s correlation to gold exhibited a rising trend, with both the 30-day and 90-day correlations approaching one. This period coincides with Bitcoin reaching new heights pre-halving in March 2
We współpracy z: https://cryptoslate.com/insights/bitcoin-gold-correlation-fluctuates-but-trends-downwards-post-halving/
