Bitcoin: Gold Correlation Hits 0.50 on Treasury Buybacks

Bitcoin and gold correlation has climbed to +0.50 on the 90-day window, nearly matching the 2020 pandemic peak and more than doubling from January levels, after the US Treasury doubled long-dated debt buybacks to $4 billion per operation on August 19.

Price action on the 4h chart shows BTC at $79933.58 inside the Bollinger Bands with upper resistance at $82501.2; the neutral RSI at 55.51 and MACD death cross at 403.5 leave room for a measured pullback toward the EMA50 support at $78699.22 before any extension higher, reinforcing Bitcoin as an inflation hedge asset amid weakening Nasdaq 100 correlation at 0.30.