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Bitcoin correlation with gold surges amidst First Republic Bank news

On a 90-day rolling basis, the correlation between Bitcoin and Gold is at 86%, a 3-year high. 

James Van Straten
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James Van Straten
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Quick Take

  • Bitcoin correlation to gold is continuing to get stronger, which is a positive sign as further stress continues onto the regional banking sector in the U.S.
  • Kaiko reported that the Bitcoin 30-day rolling correlation with gold has surged since March, and it is now at 57%, the highest in almost two years.
  • While on a 90-day rolling basis, the correlation between Bitcoin and Gold is at 86%, a 3-year high.
  • According to CNBC, First Republic Bank's share price is down a fourth of 17% today, and the U.S. government is unwilling to intervene.
BTC Correlation: (Source: Glassnode)
BTC Correlation: (Source: Glassnode)
BTC Correlation: (Source: Kaiko)
BTC Correlation: (Source: Kaiko)
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James Van Straten
James Van Straten
Former Lead Analyst CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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