Analysis: Bitcoin shows strong correlation with gold, outpacing tech stocks

Bitcoin (BTC) now shows a strong correlation of 0.70 with gold over a 30-day moving average, while its correlation with the Nasdaq 100 stands at 0.53. According to CoinDesk, this suggests Bitcoin is aligning more with gold than tech stocks, reinforcing its "digital gold" narrative. Despite economic uncertainty driven by U.S. President Trump’s tariffs on China, Bitcoin has shown strong resilience, rising nearly 10% last week and approaching $95,000.