Bitcoin-Gold Correlation Surges as Nasdaq Link Weakens

Bitcoin's relationship with traditional financial assets is undergoing a notable shift, with its price movements increasingly aligning with gold and decoupling from technology stocks, according to analysis from the asset manager Grayscale. This change in correlation patterns arrives amid growing investor focus on U.S. fiscal deficits and the cryptocurrency's fixed supply. In a research note published on August 27, Grayscale reported that Bitcoin's 90-day correlation with gold has climbed above 50 this year, a significant increase from near zero at the start of 2026. Concurrently, its correlation with the Nasdaq 100 has fallen from over 60 to approximately 33.