A new analysis has emerged for Bitcoin and gold, which have been considered each other’s biggest rivals for years.
Accordingly, Coinbase Institutional shared a new assessment highlighting the relationship between Bitcoin and gold.
Coinbase Institutional noted that Bitcoin’s 90-day correlation with gold is nearing a record high, but stressed that high correlation does not mean the two assets will yield the same return.
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Bitcoin Takes the Lead Against Gold, Directions Diverge in the Last Month!
Coinbase Institutional’s analysis reveals that the 90-day correlation between Bitcoin ($BTC) and gold is nearing a record high, but Bitcoin has outperformed gold in recent returns.
According to the analysis, Bitcoin has risen in the last month while gold has fallen during the same period. This means that although the two assets tend to move in similar directions/have a stronger correlation, their price movements can diverge significantly during certain periods.
Another key point highlighted in the analysis was that, in an environment of rising interest rates, new investment demand shifted towards Bitcoin.
Coinbase Institutional stated that marginal demand favors Bitcoin despite higher interest rates.
“Bitcoin > altın. $BTC’nin altınla korelasyonu rekor düzeye yakın. Ama benzer korelasyonlar benzer getiriler anlamına gelmez. Son bir ayda $BTC yükseldi, altın ise düştü.
The lesson we learned: Marginal demand favors bitcoin despite higher interest rates.
Bitcoin Faces Its First Major Test!
Wintermute, a cryptocurrency market maker, also offered an assessment of Bitcoin.
Wintermute, in its latest market analysis, noted that Bitcoin closed above its 50-week moving average last week for the first time since November 2025. According to the company, following this recent surge, attention has turned to the $82,500 level.
Wintermute states that the $82,500 level is critical for Bitcoin this week. This area forms the upper limit of the previous consolidation range, and maintaining this level is important for the sustainability of the recent rally. According to Wintermute, sustained price action above this level, which the price has struggled to break through for weeks, could indicate that the first weekly close above the 50-week moving average points to a more permanent price formation rather than a temporary movement.
However, Wintermute notes that while they expect the $82,500 level to be tested a few times in the short term, a close below this level could raise questions about the validity of the upward breakout.
Wintermute also noted that risky assets remained strong last week, despite the U.S. 10-year Treasury yield rising above 5%, its highest level since 2007.
*This is not investment advice.