Bitcoin (BTC) is often seen as the digital alternative to gold, but the two are currently moving apart. The Bitcoin price is rising, while gold is losing ground. According to data from analysis platform CryptoQuant, the correlation between both assets has fallen to the lowest level in years.
Bitcoin price and gold move oppositely
The correlation between Bitcoin and gold has dropped to -0.88. CryptoQuant reports this in a recent post on X. This is the lowest level since the 2022 bear market.
A value of -0.88 means that both assets move in almost complete opposite directions. If the Bitcoin price rises, gold often falls, and vice versa. Such a strong negative correlation is rare and indicates that investors are currently clearly choosing between the two.
We see that image reflected in the market. Gold has been under slight pressure in recent days, while Bitcoin has performed strongly. The digital currency recently reached a peak of over $75,000, after the price fell below $60,000 in February.
At the time of writing, gold is around $4,717 per ounce, equivalent to approximately 31 grams. It is striking that the precious metal was still around $5,230 on March 10, while Bitcoin actually rose during the same period.
In January, gold reached an all-time high of about $5,600. Last year was also strong for the precious metal. The price started around $2,630 and rose to around $4,300 at the beginning of this year.
Bitcoin actually had a weaker year in 2025, closing it with a decline of about six percent.
At the time of writing, both Bitcoin and gold are under pressure again. Bitcoin is hovering around $70,400. This decline follows rising tensions in the Middle East, after an important gas field in Iran was attacked. This caused unrest on the financial markets and increased uncertainty among investors.
Why this deviation stands out
Bitcoin and gold are often compared. In essence, BTC has many properties of gold, but in digital form. However, in practice it appears that Bitcoin has recently behaved more often as a risky investment and has moved along with tech shares.
During periods when investors take more risks, they are more likely to invest in tech stocks and Bitcoin. Gold remains the traditional safe haven.
That was clearly visible last year. Central banks then bought enormous amounts of gold. Estimates put it at around 863 tons.
Source: https://newsbit.nl/cryptoquant-bitcoin-stijgt-terwijl-goud-daalt-sterkste-negatieve-correlatie-sinds-2022/
