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Bitcoin's Correlation with Gold and Stocks Reaches Lowest Levels in Years, Warns Analyst

The decreasing correlation between Bitcoin and gold indicates that Bitcoin is still far from becoming a store of value comparable to digital gold. The correlation between gold and Bitcoin fell to its lowest level since November, causing a meltdown in the crypto markets.

The correlation has continued to decrease, with the connection getting closer to being almost perfectly negative during the previous 30 days.

Bitcoin's correlation with Ether and stocks has also decreased, with the recent trend of Bitcoin's correlation with Ether hitting its lowest position since 2021. Despite this, Bitcoin showed bullish sentiments today and is preparing for its next bull run according to popular traders.

Bitcoin Bitcoin $98,512.83
-0.15%
Bitcoin Gold
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