Coinbase: Bitcoin-gold correlation near record high, but BTC outpaces gold on returns
- —Bitcoin-gold correlation is near an all-time high
- —Over the past month Bitcoin gained while gold declined
- —Coinbase: new inflows favor BTC over gold
- —The trend holds even as interest rates rise
Why it matters: The return gap suggests Bitcoin may be siphoning safe-haven demand away from gold.
Source: Bloomingbit