Bitcoin-Gold Correlation Hits Six-Year High Amid Debts and Inflation Fears
The correlation between Bitcoin and gold has reached its highest level in six years, according to recent data from Bitwise. This surge reflects growing concerns over currency debasement, as both assets are seen as hedges against declining fiat currency value.
Data shows that Bitcoin's 90-day rolling correlation with spot gold exceeded 0.5 by the end of August 2026, a level not seen since 2020. This shift suggests market participants are increasingly viewing Bitcoin alongside gold as a store of value amidst macroeconomic uncertainties.
The current market data shows gold around $4,540 per ounce, while Bitcoin fluctuates between $78,500 and $80,800. As Bitcoin's correlation with gold increases, its correlation with equities like the Nasdaq 100 has decreased significantly, down to approximately 33% from 60% earlier in the year.