Bitcoin's Correlation With Gold Reaches Six-Year High
The correlation between Bitcoin (BTC) and gold has reached its highest level in six years, according to data from Bitwise. This shift occurred amid rising U.S. Treasury bond yields and broader market volatility that led to a selloff in equities. In recent years, BTC had been more closely aligned with tech stocks than precious metals; however, it now moves largely in tandem with gold as investors seek safe-haven assets. Bitcoin rose nearly 25% during the second half of August alongside a 5% increase in gold prices and falling stock markets. The last time Bitcoin showed such strong correlation to gold was during the early stages of the pandemic in 2020, when global stimulus measures were introduced. Additionally, BTC is negatively correlated with the U.S. dollar at this point, suggesting that any weakness in the greenback could benefit both assets. This development supports arguments from Bitcoin proponents who view it as a digital store of value akin to gold bullion. As of September 3, 2026, Bitcoin was trading at $78,500 while gold reached $4,540 per ounce.
Topics: Bitcoin bond yields correlation analysis gold store of value