The price of Bitcoin has stabilized above $100,000 for over a month, with its correlation coefficient with the US stock market dropping to -0.29, showing a clear negative correlation trend. It is worth following that physical gold has recently hit a new high, while the correlation between Bitcoin and gold has reached 0.2, indicating that Bitcoin's "digital gold" property is gradually becoming prominent. This market dynamic may suggest that Bitcoin is likely to continue to rise alongside gold, showcasing its potential as a store of value. This shift in correlation is significant for understanding the positioning of Crypto Assets in the current macroeconomic environment.
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The price of Bitcoin has stabilized above $100,000 for over a month, with its correlation coefficient with the US stock market dropping to -0.29, showing a clear negative correlation trend. It is worth following that physical gold has recently hit a new high, while the correlation between Bitcoin and gold has reached 0.2, indicating that Bitcoin's "digital gold" property is gradually becoming prominent. This market dynamic may suggest that Bitcoin is likely to continue to rise alongside gold, showcasing its potential as a store of value. This shift in correlation is significant for understanding the positioning of Crypto Assets in the current macroeconomic environment.