Bitcoin-gold correlation hits nearly six-year high

Traders Union
All News
Crypto
Bitcoin-gold correlation

Top Stories

Editors' Picks

Stocks

Crypto

Economics

Currencies

Commodities

Business & Wealth

Market Voices

03.09.2026

Bitcoin-gold correlation hits nearly six-year high — How are gold and Bitcoin correlated?

The 90-day correlation between Bitcoin and gold has risen to nearly its highest level in six years. André Dragosch, Head of Research at Bitwise Europe, highlighted the shift.

According to the company’s website, the two assets moved closer together amid a bond market selloff and rising yields on long-dated U.S. Treasurys. Bitcoin then gained 22.4% over the following week, its best weekly performance since March 2024. Gold rose about 5% over the same period, while the stock market declined.

According to Dragosch, similar levels of correlation between BTC and gold were last seen in 2020, when governments and central banks launched massive stimulus measures after the start of the pandemic. At the same time, Bitcoin showed a negative correlation with the U.S. Dollar Index at the end of August.

Bitwise believes that as macroeconomic risks increase, investors are increasingly treating gold and Bitcoin similarly as defensive assets. Dragosch said that in such periods, Bitcoin begins to look like a more volatile version of gold.

Bitcoin’s link to stocks weakens

At the same time, Bitcoin’s 30-day correlation with the S&P 500 moved close to zero in August, according to Glassnode analysts. U.S. stocks were little changed during the period, while Bitcoin rose sharply.

However, Glassnode warned that such divergences during government bond selloffs have often been short-lived in the past. They may indicate a temporary change in market behavior rather than a lasting break in the relationship between Bitcoin and equities.

Bloomberg Senior ETF Analyst Eric Balchunas also noted that over the past six months, Bitcoin’s correlation with U.S. stocks has been lower than that of gold, small-cap stocks, emerging markets, and even U.S. Treasurys.

What else does Bitcoin correlate with?

Bitcoin has repeatedly moved not only with gold but also with the stock market. Its relationship with technology companies and higher-risk equities has been particularly noticeable. In a study by Invesco and Galaxy, BTC’s correlation with the Nasdaq 100 and the Russell 2000 small-cap index was around 0.37, while its correlation with the S&P 500 stood at 0.36. The IMF has also pointed to stronger interaction between Bitcoin and the Russell 2000 after the pandemic, as cryptocurrencies became more closely connected to traditional financial markets.

At the same time, Bitcoin does not maintain a stable relationship with any single asset. During periods of strong risk appetite, it may move alongside the Nasdaq and Russell 2000, while concerns about the dollar and debt levels can bring it closer to gold. For example, Bitcoin’s 90-day correlation with the Nasdaq 100 has now fallen to roughly a one-year low, while its correlation with gold has reached a six-year high and its relationship with the DXY remains negative.

As a reminder, Ray Dalio previously drew attention to the correlation between Bitcoin and gold.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

Did you like the article?

Editor's Picks for You

From PlayStation to crypto: Why Sony is building its own blockchain

By Ksenia Gerey
6 hours ago

From PlayStation to crypto: Why Sony is building its own blockchain

Editors' Picks

Google loses billions: What’s behind Alphabet’s stock crash?

By Oleg Tkachenko
8 hours ago

Google loses billions: What’s behind Alphabet’s stock crash?

Editors' Picks

The end of Bitcoin’s growth era: Why prominent investors doubt its future

By Olena Litvinenko
Yesterday

The end of Bitcoin’s growth era: Why prominent investors doubt its future

Editors' Picks

All Editors' Top Picks

Latest Gold News

LBMA members back tokenised gold push, seek safeguards for London bullion market

By Eugene Komchuk
2 hours ago

LBMA members back tokenised gold push, seek safeguards for London bullion market

Commodities

Neutral action for Gold as $3,978 support remains in focus

By Ciaran Ryan
3 hours ago

Neutral action for Gold as $3,978 support remains in focus

Commodities

#Forecast #Commodities #Gold

RBI announces premature redemption price for Sovereign Gold Bond 2019-20 Series VI

By Parshwa Turakhiya
5 hours ago

RBI announces premature redemption price for Sovereign Gold Bond 2019-20 Series VI

Central Banks

#India #Reserve Bank of India #Gold

Ksenia Gerey
6 hours ago

From PlayStation to crypto: Why Sony is building its own blockchain

Oleg Tkachenko
8 hours ago

Google loses billions: What’s behind Alphabet’s stock crash?

Olena Litvinenko
Yesterday

The end of Bitcoin’s growth era: Why prominent investors doubt its future

Eugene Komchuk
Yesterday

WeFi CEO: Banks are overstating the threat from stablecoins

Dmytro Kharkov
Yesterday

HSBC’s warning signs point to a bigger risk for global banks

Mikhail Vnuchkov
15 min ago

Receive daily insights on stocks, options, futures, and more, Jon Najarian states

Elena Nikulina
20 min ago

Alphabet seen as cheapest hyperscaler based on forward earnings, Deirdre Bosa notes

Hanna Syniavska
30 min ago

Grant Cardone: Property offers $47 million in accelerated depreciation for CardoneCapital investors

Pavlo Kot
30 min ago

Investors adjust slowly to pressures on Google Search, Alexander Stahel notes

Ksenia Gerey
35 min ago

Apartment List data shows rents rising again, Jay Parsons notes

Top News

Hanna Syniavska
2 hours ago

ECB leaves interest rates at 2.5% as inflation pressures persist

ECB leaves interest rates at 2.5% as inflation pressures persist

Eugene Komchuk
2 hours ago

Christine Lagarde announces early resignation as ECB president

Christine Lagarde announces early resignation as ECB president

Olga Shendetskaya
4 hours ago

Brent drops below $110 as Middle East peace talks ease supply concerns

Brent drops below $110 as Middle East peace talks ease supply concerns

Andrey Mastykin
4 hours ago

Nasdaq futures decline as Alphabet sparks tech selloff

Nasdaq futures decline as Alphabet sparks tech selloff

Olga Shendetskaya
7 hours ago

ECB set to hold rates despite inflation and French bond market turmoil

ECB set to hold rates despite inflation and French bond market turmoil

Top 5 companies for you

United States

Live News

Anton Kharitonov
Now

EUR/USD remains in a strong downtrend as ECB decision approaches

Jose Antonio Gastelum
Now

Cardano Foundation expands role in Swiss tokenized securities market

Mykhailo Ihnatenko
Now

Nvidia stock faces $210 risk as Alphabet earnings shake AI sentiment

Pavlo Kot
Now

Visa stablecoin settlement volume surges tenfold to $25 billion

Mykhailo Ihnatenko
Now

Ethereum price faces $2,200 risk as early holder activity and ETF outflows weigh

© IAFT Ltd., 2010-2026 All rights to the website are owned by IAFT Ltd.,
Registration number - HE 336186

Risk disclosure:

Information on the TradersUnion.com website is for informational purposes only and does not constitute any motive or suggestion to visitors to invest money. Moreover, we hereby warn you that trading on the Forex and CFD markets is always a high risk. According to the statistics, 75-89% of customers lose the funds invested and only 11-25% of traders earn a profit. Trading in futures and options carries substantial risk of loss and is not suitable for every investor.

That is why you should only invest money that you are prepared — or can afford — to lose at such high risks. Tradersunion.com does not provide any financial services, including investment or financial advisory services. Also, the Traders Union is not a broker and does not get money for trading in the Forex or CFD markets. Our website only provides information on brokers and the markets and helps its users to select the best brokerage company based on detailed information and objective analysis of brokers.
Disclaimer:

Traders Union (TradersUnion.com) shall not be liable for the consequences of trading decisions made by the Client and for the possible loss of his capital resulting from the use of this website and information published on it.

Forex market, CFD and cryptocurrency trading involves high risks and is not suitable for everyone. Before investing money, you need to adequately assess the level of your expertise and be aware of the risks, particularly in the context of trading with leverage. The information on this website is not intended for distribution or use by any person in any country or jurisdiction, where such distribution or use would be in violation of the local law or regulation. Any payments by Traders Union (TradersUnion.com) to the users of our website shall be legally interpreted solely as an incentive on our part for the activity on the website in the form of a deduction of a part of the advertising income; they shall not be a subject of any claims of our users or our obligations, a subject of disputes, as well as cannot be considered in relation to the services provided to users by brokers, both in fact and in their completeness and volume. The administration of the website shall not be liable for the content of user comments and reviews about the companies and shall not verify whether the authors of the reviews are indeed real clients of a specific company. All reviews, both negative and positive are published on the website without verification of their reliability; only offensive reviews that call for violence or any kind of discrimination and also reviews published from one group of IP addresses are moderated and removed. The authors of the materials shall be fully liable for the accuracy, completeness and impartiality of any information in the articles and reviews, including in the context of their use or mention of any brand names or trademarks. All mentions of the names of companies and their brands in any materials on the website shall be made in the context of communication of socially important information to the people about their activities by independent journalists, who are the authors. All evaluations and indicators on the website express the subjective opinion of the authors of the reviews (articles) and shall not be viewed as accurate statements and be a subject of disputes and claims against Traders Union.
Disclosure of advertisers and revenues:

All the services on the Tradersunion.com website are free for you to use. Our team spends thousands of hours per annum researching brokers and gathering information about them to help investors all over the world to choose reliable companies and to avoid fraudsters.

Indeed, the curating, sourcing, and organization of this process requires substantial financial investment by Tradersunion.com, which the website earns in the form of advertising payments. There are two types of advertising services on the website — direct advertising or partner (broker) participation programs. However, no services purchased by our partners shall affect the recommendations on our website, or our opinions, or ratings. Our ratings are based on our objective rating criteria and methodology; and the results are always equally and fairly applied to each broker. The work of our content authors and research groups does not involve any interaction with our advertisers and they do not have access to data concerning the amount of advertising purchased. For over 10 years we consider our independence, absolute openness, and objectivity as our main priority. Please follow the links to each of our affiliated broker’s websites. This will help Tradersunion.com to continue to provide our services to you for free.