CryptoQuant: Bitcoin and gold correlation increases

according to the latest data analysis from CryptoQuant, the correlation between Bitcoin and the SP 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 decreased from 0.91 in January of this year to the current 0.83. At the same time, the correlation between Bitcoin and gold is increasing, rising from -0.62 at the beginning of the month to -0.31. Bitcoin's scarcity is similar to gold's, and it may follow the trend of gold.