Analyst: The correlation between Bitcoin and gold is as high as 0.7. Compared with US technology stocks, Bitcoin's performance is closer to gold

Odaily Planet Daily News CoinDesk analyst James Van Straten said that as of now, Bitcoin has fallen by about 1.5% since December 31 last year, and its performance is between gold, which has risen by 24%, and the Nasdaq 100 index, which has fallen by more than 7%. Therefore, the argument that Bitcoin is positioned as a leveraged technology stock or digital gold is slightly biased towards the view of digital gold, but that's all. By analyzing the correlation coefficient of Bitcoin's 30-day moving average, the current correlation with gold is strong, reaching 0.70, while the correlation with the Nasdaq 100 index is weaker, at 0.53. This shows that Bitcoin's performance is closer to the trend of gold than that of technology stocks. The correlation coefficient ranges from 1 (strong positive correlation) to -1 (strong negative correlation). Last week, Bitcoin prices rose 10%, the strongest performance since the sharp rise in prices after Trump's presidential election victory on November 17 last year. At the same time, Trump's tariff policy continues to exacerbate economic uncertainty. (CoinDesk)