Bitcoin-gold correlation rises to +0.50 while Nasdaq link hits 1-year low

Bitcoin has begun moving in closer alignment with gold as both assets attract interest from investors seeking protection against fiscal and currency risks. The latest data shows the 90-day correlation between Bitcoin and gold climbed to +0.50, more than double its level at the start of 2026.

Bitcoin strengthens ties with gold

According to analysis by the Kobeissi Letter, Bitcoin’s 90-day correlation with gold now stands at +0.50. This nearly matches the peak reached during the early months of the COVID-19 pandemic in 2020, when global markets faced extreme uncertainty. The Kobeissi Letter is a financial newsletter known for macroeconomic and market analysis.

Bitcoin and gold are increasingly moving together, with their 90-day correlation now at +0.50—almost matching the all-time high reached during the 2020 pandemic. This level has more than doubled since the beginning of the year.

The increase in correlation has accelerated in recent months. Following a recovery from the 2022 bear market, the same 90-day correlation between Bitcoin and gold peaked at only +0.30. Fresh figures from Bitwise and Bloomberg also placed the correlation at +0.50 through August 31, reinforcing the view that the two assets exhibit heightened co-movement.