According to The Kobeissi Letter, starting around 10:30 PM ET, gold and crypto began moving in opposite directions, flagging a sharp intraday negative correlation shift (source: The Kobeissi Letter, X, Sep 22, 2025). According to The Kobeissi Letter, Ether (ETH) fell as much as 10% during the move, marking notable downside pressure in crypto markets (source: The Kobeissi Letter, X, Sep 22, 2025). According to The Kobeissi Letter, gold extended its run into record territory over the same window, underscoring strength in the safe-haven trade (source: The Kobeissi Letter, X, Sep 22, 2025). According to The Kobeissi Letter, this is one of the largest gold-crypto divergences in more than 10 weeks, highlighting a material break in recent cross-asset behavior that traders track for correlation and hedging decisions (source: The Kobeissi Letter, X, Sep 22, 2025).