Bitfinex said in a chart-based analysis published on Sept. 25 that Bitcoin behaved more like gold than a traditional risk asset when the US 10-year Treasury yield reached 5%. The exchange pointed to two correlation readings in support of that view. According to the data it cited, BTC’s correlation with gold has risen to 0.52, while the correlation between BTC and daily changes in Treasury yields has turned negative. The note frames Bitcoin’s recent market behavior through its relationship with gold and bond-yield moves, rather than through the lens typically used for broader risk assets. No additional timeframe or methodology details were provided in the brief update.
Bitfinex said in a chart analysis released on Sept. 25 that Bitcoin moved more like gold than traditional risk assets when the US 10-year Treasury yield reached 5%.
According to the figures cited by Bitfinex, BTC’s correlation with gold has climbed to 0.52. At the same time, the correlation between BTC and daily changes in US Treasury yields has turned negative.
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