Bitcoin’s correlation with gold hits lowest level in a year post Donald Trump victory

Share This Post

Bitcoin’s correlation with gold prices has fallen to its lowest level in nearly a year following Donald Trump’s recent election victory on Nov. 5.

According to K33 Research, the 30-day correlation between Bitcoin and gold stands at -0.36, its lowest level since December 2023. In correlation terms, a value of 1 signifies a perfect positive relationship, where both assets move in tandem, while -1 reflects a perfect negative correlation, indicating they move in opposite directions.

Bitcoin and Gold Correlation
Bitcoin and Gold Correlation (Source: K33 Research)

Historically, Bitcoin and gold have often moved independently. This lack of consistent alignment is evident in recent price movements, with BTC reaching new highs toward $90,000 as gold prices declined.

This trend suggests that investors favor BTC over traditional safe-haven assets like gold. A key driver of this shift is the belief that a second term for Trump could provide regulatory clarity, fueling growth for Bitcoin and the broader crypto market.

So, as BTC gains recognition as “digital gold,” its appeal as a hedge against inflation and economic uncertainty continues to attract institutional and retail investors. Gold, meanwhile, may be losing traction as some investors reallocate funds to BTC, drawn by the prospect of higher returns in the burgeoning digital asset space.

The post Bitcoin’s correlation with gold hits lowest level in a year post Donald Trump victory appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

As bitcoin catches its breath on the sidelines, a wave of digital currencies is charging ahead, making big moves Meanwhile, the infamous Altcoin Season Index is climbing, signaling exciting times for

Bitcoin Correction Looms As Analyst Predicts Fall To $85,600

The price of Bitcoin (BTC)  rose by 799% in the past week to reach a new all-time high of $99,655 on November 22 Thereafter, the maiden cryptocurrency has experienced a slight retracement in the

Ripple CEO Predicts US Crypto Boom, 76% of KOLs Shilled Worthless Meme Coins, and More — Week in Review

Ripple CEO predicts US crypto boom, study shows 76% of KOLs promoted worthless meme coins, Coinbase CEO strongly endorses DOGE, and more in this Week in Review Week in Review Ripple CEO Brad

Bitcoin Taker Buy/Sell Ratio Surges On Major Exchanges — Who Is Buying?

The price of Bitcoin has somewhat cooled off, struggling to reach the highly-coveted $100,000 mark, after an intense bullish run all week long However, investors appear to be undeterred by the

Bitcoin Price Is Decoupling From Gold Again — What’s Happening?

Bitcoin has often been referred to as the “digital gold,” as it has proven to be a unique asset class and, more importantly, a reliable store of value over the years While gold surely outpaces

AI, Blockchain Integration Can Boost Trust, Prevent Misuse, Expert Says

Integrating AI with blockchain can enhance AI’s trustworthiness and revolutionize various sectors AI Developers Should Prioritize User Control Stacey Engle, co-founder and CEO of Twin Protocol,