Analyst: The correlation between Bitcoin and gold is as high as 0.7. Compared with US technology stocks, Bitcoin's performance is closer to gold

Planet Daily News: CoinDesk analyst James Van Straten stated that as of now, Bitcoin has dropped approximately 1.5% since December 31st last year, performing between gold's 24% increase and the Nasdaq 100 index's over 7% decline. Therefore, positioning Bitcoin as a leveraged tech stock or digital gold slightly leans towards the digital gold perspective, but only to that extent. By analyzing Bitcoin's 30-day moving average correlation coefficient, it currently has a strong correlation with gold at 0.70, while its correlation with the Nasdaq 100 index is weaker at 0.53. This indicates that Bitcoin's performance is closer to gold's trend rather than tech stocks. The correlation coefficient ranges from 1 (strong positive correlation) to -1 (strong negative correlation). Last week, Bitcoin's price increased by 10%, which is its strongest performance since Trump's election victory on November 17th last year. Meanwhile, Trump's tariff policies continue to exacerbate economic uncertainty. (CoinDesk)