Bitcoin: Gold Correlation Hits Highest Since 2020

Bitcoin gold correlation has reached its highest level since 2020, positioning BTC more as digital gold than a leveraged tech bet according to Bitwise's André Dragosch via Cointelegraph.

Bitcoin digital gold narrative vs risk asset correlation analysis shows the asset decoupling from equities while aligning tightly with gold, supported by Bitcoin gold correlation historical data since 2020.

Price action on the 4h chart reveals a bullish trend with BTC at $81082.15 holding above EMA50 support at $78211.55 and EMA200 at $72530.42; momentum stays constructive as MACD prints a golden cross at 743.68 while RSI at 67.46 leaves room before overbought territory, though a test of upper Bollinger resistance at $81906.36 could trigger a healthy pullback toward the lower band at $75218.27 before continuation.