Bitcoin's Correlation with Gold Hits Record Low, Analyst Suggests Market Bottom

Bitcoin's correlation with gold has reached a record low, according to NS3.AI. An analyst noted that the correlation fell to -0.9 in March, indicating a potential market bottom for Bitcoin. The BTC/gold ratio has decreased by approximately 70%, aligning with previous cycle troughs observed in 2014, 2018, and 2022. This trend suggests that Bitcoin may be diverging from traditional safe-haven assets, potentially signaling a shift in market dynamics.