Bitcoin’s correlation with gold strengthens amid recessionary signals

exchange68September 10, 2024

0 0 2 minutes read

Despite a bleak U.S. jobs report triggering the Sahm Rule and signaling a looming recession, Bitcoin’s performance offers surprising resilience. Trading at a steady $65,000, Bitcoin is showing an unusual decoupling from major equity indices. Interestingly, Bitcoin’s correlation with the QQQ and SPY is in negative territory, showcasing a divergence from U.S. equities. Even more intriguing, Bitcoin’s alignment with gold is on the rise, hinting at a shifting dynamic… But what does this newfound correlation imply for Bitcoin’s future in a volatile market? Discover the implications in our full insight on CryptoSlate Alpha.

To access this insight, connect your Solana wallet or learn more about CryptoSlate Alpha.

Unlock this insight with CryptoSlate Alpha

This insight is only available for CryptoSlate Alpha members. CryptoSlate Alpha is a web3 membership built to empower you with cutting-edge insights and knowledge, built in partnership with Access Protocol.

👋 Hey, connecting to CryptoSlate Alpha requires authentication using Access Protocol. CryptoSlate is a launch partner of Access Protocol and we are also invested in the project through a grant we received. For more information, see our terms page.

To access CryptoSlate Alpha, you will need

1. Solana Wallet

Connect a Solana self-custody wallet (Phantom, Solflare or Torus).

2. Stake ACS

Stake 20k ACS (native token of Access Protocol) to the CryptoSlate pool.

Included in your membership

Exclusive Research & Analysis

Crypto, Macro & DeFi Insights

Already holding ACS? Connect & stake now →

Join Access Protocol to get CryptoSlate Alpha

Disclaimer: By choosing to lock your ACS tokens with CryptoSlate, you accept and recognize that you will be bound by the terms and conditions of your third-party digital wallet provider, as well as any applicable terms and conditions of the Access Foundation. CryptoSlate shall have no responsibility or liability with regard to the provision, access, use, locking, security, integrity, value, or legal status of your ACS Tokens or your digital wallet, including any losses associated with your ACS tokens. It is solely your responsibility to assume the risks associated with locking your ACS tokens with CryptoSlate. For more information, visit our terms page.