Bitcoin is strongly moving in the opposite direction to Gold as the Correlation metric for the two has dropped to its lowest since November 2022.
Bitcoin-Gold Correlation Is At Its Most Negative In YearsWhen the value of the indicator is positive, it means the price of one asset is reacting to the other’s by moving in the same direction. The closer is the metric to 1, the stronger is this relationship. On the other hand, a negative coefficient suggests a negative correlation exists between the prices. That is, they are moving in the opposite direction. On this side of the scale, the extreme point lies at -1.
There is also a third case for the indicator: one where its value is exactly equal to zero. In statistics, the variables are said to be independent in such a scenario. Thus, the metric having this value means the two assets have no relationship whatsoever.
Now, here is the chart shared by CryptoQuant that shows the trend in the Correlation Coefficient for Bitcoin and Gold over the history of the digital asset:
As displayed in the above graph, the Correlation Coefficient for Bitcoin and Gold rose to a notable positive level in the first half of 2025, suggesting that the two assets were traveling in a similar manner. In the second half of the year, however, the indicator collapsed, with the correlation between the assets turning red.
In 2026, this trend has only intensified. From the chart, it’s visible that the Correlation Coefficient has just seen a sharp negative spike, meaning that BTC and Gold are moving against each other in a strong manner.
Historically, BTC has often been considered as the digital analogue to Gold, but the latest Correlation Coefficient would suggest that the cryptocurrency is currently behaving in the opposite manner to the traditional safe-haven.
BTC PriceAt the time of writing, Bitcoin is trading around $70,500, down 5% over the last 24 hours.
