BTC may have bottomed as decoupling from gold deepens, analyst says

Bitcoin's deepening decoupling from gold is fueling analysis that the cryptocurrency may have reached a market bottom. According to BeInCrypto, the correlation coefficient between BTC and gold fell to -0.9 in March, its lowest level since the end of 2022. At that time, BTC bottomed out at $15,600 before embarking on a two-year rally. Cryptocurrency trader and analyst Michaël van de Poppe noted that historically, sharp drops in the BTC/gold ratio have confirmed cycle bottoms. He pointed out that the current decline is 70%, a level comparable to previous market troughs in 2014 (-86%), 2018 (-83%), and 2022 (-76%). Van de Poppe suggested that the ratio appears to have stopped falling and entered a consolidation phase, indicating a potential for a full-scale price recovery for Bitcoin.