Bitcoin-gold correlation hit a six-year high. The 90-day BTC-gold relationship rose to 2020 levels, while correlation with stocks fell to a low. Bitwise research chief Andre Dragosh linked the move to August macro events.
After US Treasury bond purchases, Bitcoin rose 22.4%, gold gained 5%, and stocks fell. Investors are increasingly hedging currency-devaluation risks through both assets, with Bitcoin acting as an “amplified version of gold.”
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