Bitcoin-Gold Correlation Hits Six-Year High as Debasement Fears Mount

Bitcoin Magazine Bitcoin-Gold Correlation Hits Six-Year High as Debasement Fears Mount Bitcoin’s correlation with gold is at its highest in six years as investors increasingly look for ways to hedge against currency debasement.  That’s according to a new report from Bitwise, which this week pointed out that the precious metal and leading cryptocurrency are trading in lockstep because the U.S.

government has “materially intervened in the macro picture.”  Bitcoin started surging last month, after the U.S. Treasury Department said it would more than double the size of its government debt repurchases.

The coin had its best run in three years and third best August ever.  JUST IN: Bitcoin's correlation with gold hit a six-year high, according to Bitwise "The last time it was this high was 2020, after the Covid stimulus." pic.twitter.com/fHtQUlR9Ol— Bitcoin Magazine (@BitcoinMagazine) September 3, 2026 “The last time the bitcoin-gold correlation was that high was in 2020, following the rounds of fiscal and monetary stimulus during the Covid crisis,” Bitwise’s European Head of Research, André Dragosch, wrote.  He added that bitcoin’s correlation with the stock market dropped to a one-year low, “implying some kind of decoupling between hard assets and the stock market.” Bitcoin has been pushed as “digital gold” for years but has sometimes traded with tech stocks as a “risk-on” asset.  But the so-called debasement...