{"id":68206,"date":"2022-10-06T16:46:00","date_gmt":"2022-10-06T13:46:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68206"},"modified":"2025-09-07T12:52:56","modified_gmt":"2025-09-07T09:52:56","slug":"analysts-record-rise-in-gold-bitcoin-correlation","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/analysts-record-rise-in-gold-bitcoin-correlation\/","title":{"rendered":"Analysts record rise in gold\u2013Bitcoin correlation"},"content":{"rendered":"<p>The price correlation between gold and its digital counterpart rose above 0.3. Over the past year, the gauge has hovered within a range of -0.3 to 0.2, Kaiko said in a new study.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Kaiko: Bitcoin\u2019s correlation with gold hit its highest level in more than a year last week. As the U.S. Dollar continues strengthening, negatively impacting both crypto and gold, the correlation between the two assets has shifted. <a href=\\\"https:\/\/t.co\/lyVSwSAvkX\\\">https:\/\/t.co\/lyVSwSAvkX<\/a> <a href=\\\"https:\/\/t.co\/h9YxFFGOFM\\\">pic.twitter.com\/h9YxFFGOFM<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\\\"https:\/\/twitter.com\/WuBlockchain\/status\/1577962731357212674?ref_src=twsrc%5Etfw\\\">October 6, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Analysts noted that gold had failed to confirm its status as a safe\u2011haven asset amid the tightening of monetary policy by the <span data-descr=\\\"US Federal Reserve\\\" class=\\\"old_tooltip\\\">Fed<\/span>. As the dollar strengthened, the correlation between the precious metal and Bitcoin rose.<\/p>\n<p>The change in the tone of the market may also have been indirectly influenced by the UK debt market. The jump in 30-year gilt yields to the highest since 2002, at 5%, gave way to a pullback as the Bank of England launched a temporary asset-buying programme.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\u00abThis steadied the situation for the moment, but concerns about \u2018global contagion\u2019 and a further rush for risk are rising\u00bb,<\/em> experts noted.<\/p>\n<\/blockquote>\n<div class=\\\"wp-block-image\\\">\n<figure class=\\\"aligncenter size-full\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"720\\\" height=\\\"386\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/1-735.png\\\" alt=\\\"Analysts observed a rise in gold\u2013Bitcoin correlation\\\" class=\\\"wp-image-186973\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/1-735.png 720w, https:\/\/u1f987.com\/wp-content\/uploads\/1-735-300x161.png 300w\\\" sizes=\\\"auto, (max-width: 720px) 100vw, 720px\\\" \/><figcaption>Data: Kaiko.<\/figcaption><\/figure>\n<\/div>\n<p>Against a backdrop of destabilisation in debt markets and sharp devaluations of the British pound and the euro against the dollar, <a href=\"https:\/\/u1f987.com\/en\/news\/rumours-of-possible-credit-suisse-bankruptcy-unsettled-the-market\">there was observed<\/a> a sharp spike in purchases of digital assets in those fiat currencies.<\/p>\n<p>On September 21, Bitcoin <a href=\"https:\/\/u1f987.com\/en\/news\/fed-raises-policy-rate-bitcoin-slides-below-19000\">reacted with a correction<\/a> to the Federal Reserve&#8217;s rate hike.<\/p>\n<p>Read ForkLog Bitcoin news in our <a href=\\\"\/\/telegram.me\/forklog\\\"\u201d\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price correlation between gold and its digital counterpart rose above 0.3. Over the past year, the gauge has hovered within a range of -0.3 to 0.2, Kaiko said in a new study.<\/p>\n","protected":false},"author":1,"featured_media":68207,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,536,1261],"class_list":["post-68206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-gold","tag-kaiko"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=68206"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68206\/revisions"}],"predecessor-version":[{"id":68208,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68206\/revisions\/68208"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/68207"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=68206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=68206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=68206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}