Bitwise: 90-Day Correlation Between Bitcoin and Gold Hits Six-Year High

Bitwise European Research Head André Dragosch reported that the 90-day correlation between Bitcoin and gold has reached its highest level in nearly six years. Bitcoin surged 22.4% over the past week, its largest weekly gain since March 2024, while gold rose approximately 5% amid a decline in stock markets. Bitwise noted that as of late August, Bitcoin shows a negative correlation with the US Dollar Index, suggesting that a weaker dollar benefits both Bitcoin and gold, a trend last observed during the 2020 pandemic-era stimulus measures.