CryptoQuant: Correlation Between Bitcoin and Gold Increases

According to the latest data analysis by CryptoQuant, the correlation between Bitcoin and the S&P 500 Index has decreased from 0.88 at the end of 2024 to the current 0.77. Meanwhile, its correlation with the NASDAQ Composite Index has also dropped from 0.91 in January this year to the current 0.83. At the same time, the correlation between Bitcoin and gold is strengthening, rising from -0.62 at the beginning of the month to -0.31. The scarcity of Bitcoin is similar to that of gold, and it is likely to follow the trend of gold.