The Consumer Advisor

Historically (2015–2023), the correlation between Bitcoin (BTC) and gold has been very low or near-zero on average (~0.05–0.15 over multi-year periods), meaning they have generally moved independently. Bitcoin has acted more like a risk-on tech asset, while gold serves as the classic safe-haven. In 2024–early 2025, this changed temporarily: From late 2022 to late 2024, BTC and gold showed unusually tight positive correlation (often 0.6–0.8), both rallying as "anti-fiat" hedges amid high inflation and rate-cut expectations. Throughout 2025 , the relationship has been highly volatile and mostly decoupled or divergent — the "digital gold" narrative has been severely tested this year. Early 2025 (Q1) : Brief decoupling — gold surged +15–20% on geopolitical tensions and central bank buying, while BTC dropped ~10%. Correlation turned negative in periods. April–May 2025 : Temporary "recoupling" spike — 30-day correlation hit ~0.70 (highest in years) amid macro un...

The correlation between the Nasdaq index and cryptocurrencies, particularly Bitcoin, has been a subject of interest and analysis, reflecting the increasing integration of digital assets into the broader financial ecosystem. Updated Status as of November 2025 The core thesis from the original article remains valid: Bitcoin continues to behave like a high-beta tech asset with a strong positive correlation to the Nasdaq 100. However, the relationship has evolved with some important nuances in 2025. 30-day rolling correlation (BTC vs. Nasdaq 100) : ~0.80 → Highest level since 2022 and the second-highest in the past decade (sources: Kobeissi Letter, Wintermute, CoinDesk) 5-year average correlation : ~0.54 → Confirms the recent spike is part of a longer-term uptrend that began in 2020 Year-to-date performance (Jan 1 – Nov 20, 2025) : → Nasdaq 100: +20% → Bitcoin: +3–4% → BTC has significantly underperformed tech stocks despite the tight correlation Key new phenomenon in 2025 : Strong negativ...