Bitcoin's 'Digital Gold' Narrative Takes Hold as Correlation with Gold Hits Extreme Levels

Bitcoin and gold have become increasingly correlated in recent months, challenging the traditional view that Bitcoin is a riskier asset while gold is a safe haven.

According to Adam Livingston, vice president of investments at Strive, the correlation between Bitcoin and gold has surged to extreme levels.

The 30-day correlation between the two assets stands at +0.68, with the 252-day reading also reaching +0.41, both of which are around the 99th percentile of their historical ranges.

This shift in correlation suggests that Bitcoin may be 'finally acting like digital gold', as some crypto users have pointed out.