Bitcoin Ditches Stocks, Snuggles Up to Gold in Stunning Macro Shift

Wall Street’s pet rock just upgraded to a golden retriever. Bitcoin’s 90-day correlation with the S&P 500 has cratered to 0.12—while its link to gold surges past 0.45. The OG crypto’s playing a new game now.

Decoupling or delusion? Traders are split as BTC shrugs off Fed whispers and Treasury drama. ’Store of value’ narrative gets a boost, but let’s be real—gold bugs still think Satoshi is a sushi roll.

One hedge fund manager quipped: ’Guess we’ll need a new PowerPoint slide for the next client pitch.’ The financialization of everything continues—with extra hopium this time.

Bitcoin ($BTC) has recently witnessed a notable shift when compared with the traditional finance. As per the data from OKX Ventures, Bitcoin has formally decoupled from the stocks market in the United States while strengthening its correlation with the precious metal gold. The prominent crypto exchange OKX’s investment arm offered insights into the latest shift in the Bitcoin market.

Bitcoin is decoupling from the trend of U.S. stocks, having notably diverged from the S&P 500 and Nasdaq over the past seven days, with the correlation continuing to decline (S&P: 0.68→0.27). Meanwhile, its correlation with gold has strengthened (0.05→-0.51).#Bitcoin #GOLD pic.twitter.com/WOtgDLrkKK

Bitcoin’s Sees Significant Rise in Gold Correlation Amid Decoupling with Stocks

OKX Ventures’s data points toward Bitcoin’s exclusive image as a “digital gold” as it is witnessing a noteworthy correlation with gold. In this respect, it has decoupled from the stock indices in the United States. Hence, a sheer dip has taken place in Bitcoin’s bonding with S&P 500 index over the past week. This metric has reportedly plunged from 0.68 to a much lower spot at 0.27.

In the same vein, Bitcoin’s bonding with the Nasdaq Composite has also followed suit with a significant slump. On the other hand, Bitcoin has seen a growing strength in correlation with gold. Particularly, from March 24th to April 23rd, Bitcoin’s price levels reportedly fluctuated within the $77.5K-$92.5K range.

All Eyes Focused on Potential Continuation or Reversal in Current Trends

Additionally, its bonding with S&P 500 index, despite initial strength, started a sheer dip following April 11. Ultimately, around the 22nd of April, this metric slumped below the correlation with gold. At the moment, as worldwide financial industry sees substantial volatility, market onlookers keep watching for the potential continuation in this pattern or reversion to the past trends.