The correlation between bitcoin and gold has turned sizably negative of late, according to CryptoQuant, with gold recently pushing to new record highs above $2,500 per ounce while bitcoin has been declining and now sits more than 20% below its all-time high above $73,000 from March. The move into gold and out of bitcoin has come as U.S. stocks have struggled, with the S&P 500 slipping 3.6% since August 30.
Source: https://www.coindesk.com/markets/2024/09/11/bitcoin-decouples-from-gold-as-crypto-continues-in-bearish-phase/?utm_medium=referral&utm_source=rss&utm_campaign=headlines