Quick Take
- Bitcoin correlation to gold is continuing to get stronger, which is a positive sign as further stress continues onto the regional banking sector in the U.S.
- Kaiko reported that the Bitcoin 30-day rolling correlation with gold has surged since March, and it is now at 57%, the highest in almost two years.
- While on a 90-day rolling basis, the correlation between Bitcoin and Gold is at 86%, a 3-year high.
- According to CNBC, First Republic Bank’s share price is down a fourth of 17% today, and the U.S. government is currently unwilling to intervene.
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