Data shows the digital gold narrative may be in danger on the short term as Bitcoin has diverged from Gold in its 30-day Correlation.

Bitcoin Is Still Correlated To Gold On A Long-Term Scale

In a new post on X, on-chain analytics firm Glassnode has discussed about how the Correlation between Bitcoin and Gold is currently looking on various timeframes. The “ Correlation ” here refers to a tool from statistics that determines how related two given variables are. In terms of assets, the metric identifies if there is any relationship between their prices.

When the value of the indicator is positive over a given period, it means the price of one asset has reacted to movements in the other by traveling in the same direction. The closer is the metric to 1, the stronger is this relationsh

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