Bitcoin Correlation with Gold Hits 3-Year Low as Whales Accumulate

The correlation between Bitcoin (BTC) and gold has hit a three-year low of 0.9, sparking hopes that BTC could outperform gold in the coming months.

According to data shared by analyst Wise Crypto on March 24, the BTC-to-gold ratio has fallen around 70% from its prior high, while Bitcoin itself has stabilized near $71,000.

This correlation breakdown has historically preceded major BTC recoveries, and Wise Crypto notes that if history rhymes, BTC could be gearing up to outperform gold next.

In recent price action, Bitcoin has gained 7% following the start of the U.S.-Iran conflict on February 28, while gold fell 2%, suggesting that macro and geopolitical resilience are supporting Bitcoin's price.