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

Bitcoin’s correlation with gold hits lowest level in a year post Donald Trump victory
фото показано с : cryptoslate.com

2024-11-13 13:33

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 (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.

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bitcoin gold correlation donald trump year victory

Источник: cryptoslate.com

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