Bitcoin blinks less than gold when Treasury yields move
A new correlation study suggests that Bitcoin may be a more effective hard asset than gold during periods of rising Treasury yields. Data indicates that Bitcoin's price is less negatively impacted by bond market fluctuations compared to gold.
Why it matters
This analysis provides insight into how digital assets are increasingly viewed as a hedge against fiscal instability in traditional markets.
Bitcoin BTC $ 79,465.92 may be a better hard asset than gold, according to a correlation study.
Both have been rising recently , just as concerns about the fiscal health of advanced-economy governments have come to dominate market sentiment, pushing bond yields, or market-implied borrowing costs, higher.
As of today, the 90-day correlation coefficient between BTC and gold’s daily returns stands at 0.59, according to data from TradingView and CoinDesk. That’s the highest since 2020, when central banks and governments were printing truckloads of money to cushion the economy and markets during the pandemic.
While both are viewed as hard assets that stand to benefit from fiscal worries and the prospect of financial repression , bitcoin seems to have a slight edge.
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