BTC Correlation with Gold Hits Three-Year Low
The correlation between Bitcoin (BTC) and gold has hit a three-year low of 0.9, a level that typically precedes major BTC recoveries. According to analyst Wise Crypto, this drop in correlation has historically preceded significant price increases in Bitcoin.
Wise Crypto notes that the BTC-to-gold ratio has fallen approximately 70% from its prior high, while Bitcoin itself has stabilized near $71,000. The analyst points out that similar correlation breakdowns have appeared just as BTC stopped falling and began to rebound in the past.
In addition to the drop in correlation, whale accumulation has increased, indicating larger holders are building positions at current levels. This trend suggests that even as short-term selling pressure on Binance eases, the overall market is still experiencing consolidation rather than a sustained decline.