PANews reported on April 29 that according to The Block, on April 25, the 30-day Pearson correlation coefficient between Bitcoin and gold reached 0.54, close to the annual high of 0.73. Previously in February, the two had "decoupled", with the correlation coefficient plummeting from 0.73 to -0.67 within three weeks. In early February, Bitcoin was priced at around $102,000, and gold was $2,800 per ounce; by the end of February, Bitcoin had dropped to $84,000, while gold rose to $2,850, with price differences causing the correlation coefficient to plummet. Subsequently, the correlation coefficient rebounded sharply to 0.52, and this "re-coupling" may be due to macroeconomic uncertainty caused by US tariffs. From a historical pattern, "re-coupling" can be attributed to cyclical fluctuations. Since 2020, the correlation coefficient has been close to or below -0.50 18 times, with 17 of those rebounding within a week, with the exception of December 2022. Historically, whenever the coefficient drops to -0.50 or lower, the correlation coefficient between Bitcoin and gold subsequently experiences a strong "re-coupling", typically rising to 0.8 or higher, before starting a new "decoupling" cycle.
