Bitcoin

Gold

<h2 id="quick-take">Quick Take</h2>
<ul>
<li>Bitcoin correlation to gold is continuing to get stronger, which is a positive sign as further stress continues onto the regional banking sector in the U.S.</li>
<li>Kaiko reported that the Bitcoin<a href="https://twitter.com/KaikoData/status/1651173606796263424?s=20"> 30-day rolling</a> correlation with gold has surged since March, and it is now at 57%, the highest in almost two years.</li>
<li>While on a 90-day rolling basis, the correlation between Bitcoin and Gold is at 86%, a 3-year high.</li>
<li>According to <a href="https://twitter.com/DeItaone/status/1651215088106233860?s=20">CNBC</a>, First Republic Bank&#8217;s share price is down a fourth of 17% today, and the U.S. government is currently unwilling to intervene.</li>
</ul>
<figure style="width: 1254px" class="wp-caption aligncenter"><img class="wp-image-320777 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/04/COrr.png" alt="BTC Correlation: (Source: Glassnode)" width="1254" height="701" srcset="https://cryptoslate.com/wp-content/uploads/2023/04/COrr.png 1254w, https://cryptoslate.com/wp-content/uploads/2023/04/COrr-300x168.png 300w, https://cryptoslate.com/wp-content/uploads/2023/04/COrr-1024x572.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/04/COrr-768x429.png 768w" sizes="(max-width: 1254px) 100vw, 1254px" /><figcaption class="wp-caption-text">BTC Correlation: (Source: Glassnode)</figcaption></figure>
<p>&nbsp;</p>
<figure id="attachment_320778" aria-describedby="caption-attachment-320778" style="width: 1251px" class="wp-caption aligncenter"><img class="wp-image-320778 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/04/co.png" alt="BTC Correlation: (Source: Kaiko)" width="1251" height="699" srcset="https://cryptoslate.com/wp-content/uploads/2023/04/co.png 1251w, https://cryptoslate.com/wp-content/uploads/2023/04/co-300x168.png 300w, https://cryptoslate.com/wp-content/uploads/2023/04/co-1024x572.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/04/co-768x429.png 768w" sizes="(max-width: 1251px) 100vw, 1251px" /><figcaption id="caption-attachment-320778" class="wp-caption-text">BTC Correlation: (Source: Kaiko)</figcaption></figure>
<p>The post <a rel="nofollow" href="https://cryptoslate.com/insights/bitcoin-correlation-with-gold-surges-amidst-regional-banking-news/">Bitcoin correlation with gold surges amidst First Republic Bank news</a> appeared first on <a rel="nofollow" href="https://cryptoslate.com">CryptoSlate</a>.</p>

Bitcoin correlation with gold surges amidst First Republic Bank news

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