Bitcoin’s 90-day correlation with gold hits nine-year high
BTC's 90-day correlation with gold has reached a multi-year high as the US Treasury’s QE Lite announcement reunited debasement traders.
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BTC's 90-day correlation with gold has reached a multi-year high as the US Treasury’s QE Lite announcement reunited debasement traders.
Read more (2 min) →A dollar saved in gold a year ago is worth $1.28 today, while the same dollar saved in BTC is worth just $0.55.
Since Donald Trump joined Israel’s war with Iran on February 28, BTC has rallied 8% while gold has fallen 18%.
Curiously, BTC has demonstrated relative strength among trillion-dollar assets since the onset of the Iran war.
A 72-hour rally in gold this week added twice as much value to the precious metal than the entire market capitalization of BTC.
BTC has lagged far behind gold over the past year. By one calculation, BTC is 68% lower than it should be.
Amid a historic rally in gold over the last 12 months, BTC investors are losing confidence in it becoming digital gold.
Despite an 11X larger market capitalization, gold has rallied 32% versus BTC's far more modest 16% so far this year.
Despite Donald Trump's embrace of "digital gold," BTC, actual gold has outperformed it so far in his second term.
A year-to-date chart of gold versus BTC shows outperformance of the traditional safe haven asset amid geopolitical uncertainty.