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CryptoQuant: The correlation between Bitcoin and gold has increased.
Golden Finance reports that, according to the latest data analysis from CryptoQuant, the correlation between Bitcoin and the S&P 500 index has decreased from 0.88 at the end of 2024 to the current 0.77, and the correlation with the Nasdaq Composite index has also dropped from 0.91 in January of this year to the current 0.83. At the same time, the correlation between Bitcoin and gold is strengthening, rising from -0.62 at the beginning of the month to -0.31. The scarcity of Bitcoin is similar to that of gold, and it has the potential to follow the trends of gold.