Haciyev Reşit 
The relationship between Bitcoin (BTC) and Gold has entered a critical turning point in terms of investor behavior. On-chain analytics platform Glassnode reported that Bitcoin’s 30-day correlation with gold has dropped to -0.53. This indicates that, in recent times, the two assets have often moved in opposite directions, signaling a significant shift in market perception.
Why Is the Bitcoin–Gold Correlation Negative?
In finance, the correlation coefficient shows how two assets move relative to each other. A value of +1 signals perfect positive correlation, while -1 signals perfect negative correlation.
The current -0.53 reading suggests:
- When gold rises, Bitcoin tends to decline.
- Conversely, when Bitcoin climbs, gold often faces pressure.
This shift highlights that investors increasingly see gold as a safe haven during uncertainty, while positioning Bitcoin as a risk asset. Heightened geopolitical and economic tensions have pushed gold to record highs, while Bitcoin has consolidated within a narrower range.
Bitcoin Price Analysis: Key Levels
Bitcoin is currently trading amid high volatility. Based on the latest market data:
- Main support zone: $110,000 – $105,000
- Critical resistance range: $120,000 – $122,000
- Target levels: If resistance is broken, $128,000 – $130,000
On the gold side, the ounce is trading near all-time highs at $3,645, making the BTC–gold divergence even more pronounced.
Strategies for Investors
Bullish Strategy:
- Investors buying the dips may view the $105,000 – $110,000 range as strong support.
- Stop-loss: below $105,000
- Targets: $120,000 and $130,000
Bearish Strategy:
- If Bitcoin falls below $105,000, short positions may come into play.
- Downside targets: $98,000 – $100,000
Correlation Watch:
- Continued gold rallies could trigger short-term pullbacks in Bitcoin.
- In risk-on conditions, Bitcoin may decouple from its “safe haven” narrative and maintain its bullish momentum.
BTC Evolving from Safe Haven to Risk Asset
Bitcoin’s negative correlation with gold shows that it is shifting away from the traditional safe haven narrative, increasingly being viewed as a risk-on asset.
Upcoming macroeconomic data — CPI releases, Fed interest rate decisions, and global market volatility — will play a decisive role in BTC’s direction.
If risk appetite strengthens, Bitcoin could test $130,000. If uncertainty deepens, selling pressure could drag the price below $100,000.
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