NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Bitcoin Price Forms Striking Correlation to Gold; What This Means for BTC

Cole Petersen
Cole Petersen
1 year ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin’s price action has been lackluster in recent times, and many attribute this to the cryptocurrency’s incredibly tight correlation to the stock market.

It appears that the cryptocurrency’s price action is growing more correlated to that of gold than that of the benchmark equities indices.

As such, where the precious metal trends next could offer investors significant insights into Bitcoin’s future price action.

One analyst is noting that he believes gold could currently be forming a clear distribution pattern, with it currently testing a breakout above the upper boundary of its channel.

If it faces a rejection around its current prices and begins declining from here, it is a strong possibility that it will see large losses due to the confirmation of this incredibly bearish technical pattern.

This could prove to be dire for Bitcoin, as its overt correlation with gold is likely to persist as global economic turbulence mounts.

Bitcoin and Gold Form Clear Correlation in Recent Months 

It’s no surprise that Bitcoin and gold have been growing correlated in recent times. Both assets are looked upon as being “hard assets” than can be purchased to avoid the impacts of inflation and economic turbulence during tough times.

There are some underlying similarities between the two assets, despite one being digital and the other being physical – including their respective scarcity.

Although Bitcoin has a fixed scarcity of 21 million – and much less if you factor in lost coins – and gold continues to be mined daily, the precious metal has long been favored by investors due to its established history of trading like a “safe-haven” asset.

It also remains far lower than that seen by fiat currencies, whose value fluctuates purely based on actions being undertaken by central banks across the globe.

Investors appear to be taking notice of the similarities between Bitcoin and gold, as the two have seen strikingly similar price action in recent times.

One popular cryptocurrency analyst took notice of this trend, explaining that BTC has moved “lock-step” with gold over the past six months.

“BTC has been in lock-step with the price movements of gold the past six months. Looking at the two charts side by side, its rather obvious what direction Bitcoin heads next.”

Bitcoin Gold

Image Courtesy of TraderXO. Charts via TradingView

This Trend May Not Bode Well for BTC 

The striking correlation between these two assets may be negative for Bitcoin.

One analyst recently noted that gold appears to be forming a clear distribution pattern, which could mean that it will soon see a massive decline.

He does note that this decline could be further perpetuated by the US Dollar’s climbing value.

“Gold – Potential bearish scenario – to be confirmed. Bias still remains cautiously bullish until this starts breaking down… If dollar keeps pushing up – Gold may be due [for] a decent pullback,” he explained.

Image Courtesy of Kaleo. Charts via TradingView

If this pattern plays out as he expects it to, it could cause Bitcoin’s price to reel lower in tandem.

Featured image from Shutterstock.

Charts from TradingView.
Tweet123Share196ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Bitcoin Tests Weekly Open As $113,300 Fair Value Gap Looms — What It Means

Over the past week, the Bitcoin market experienced significant volatile price action, resulting in a net price loss of 0.07%....

Semilore Faleti 7 hours ago
Chainlink

Chainlink Bulls Eye $30 Target But Must First Overcome Crucial Resistance

Prominent market analyst Ali Martinez has outlined some bullish insights on the Chainlink market regarding short-term price action. This development...

Semilore Faleti 10 hours ago
Litecoin

Litecoin Price Compresses In Tight Falling Wedge, Breakout Ahead?

In his latest update, CryptoWzrd observed that Litecoin closed the day on a bearish note, moving in line with Bitcoin’s...

Godspower Owie 13 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

altcoins, bull run, altseason, trump crypto, crypto verwachting

Altcoins trekken miljarden na Fed cuts – altseason staat voor de deur

Lars Diederiksen 43 minutes ago
XRP koers ATH door Ripple ETF nieuws? De belangrijkste XRP verwachting 2025

XRP koers ATH door Ripple ETF nieuws? De belangrijkste XRP verwachting 2025

Lars Diederiksen 44 minutes ago
Cardano

Can Cardano Repeat 2021 Surge? Technicals Point Toward $3–$6 Target – Details

Semilore Faleti 1 hour ago

Premium Sponsors

Press Releases

  • パイネットワーク...

    21 hours ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Cele mai bune altcoin-uri de cumpărat, pe măsură ce...

    22 hours ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Cele mai bune meme coin-uri de cumpărat acum, pe măsură...

    23 hours ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Nejlepší meme coiny k nákupu nyní, když se tržní...

    23 hours ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Nejlepší altcoiny k nákupu, když se cena Solany...

    23 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.