This week: Bitcoin becomes bullish in the middle of coupling with gold

By Hannah Pérez

The correlation between gold and Bitcoin It bounced near the annual maximum as the cryptocurrency emerged over USD $ 97,000. Gold fell price in the week. Do investors resort to BTC In search of an alternative shelter?

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• Bitcoin begins to dance again to gold while taking up the USD $ 97,000.
• After a strong decoupling, BTC Now shows strength against precious metal.
• Gold fell this week after reaching a new maximum in mid -April.
• Are investors resorting to Bitcoin In search of alternative refuge?
• The dollar is the largest loser in the midst of macro uncertainty.
• Could Bitcoin Be heading to USD $ 120K before June? This analyst suggests yes.

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What had been an explosion for the price of gold during the first weeks of April, has turned to Bitcoin This week, as the cryptocurrency recovered maximums of almost three months to start May driven by bullish winds.

Continuing the prolonged ascent of recent months, The precious metal arose to a new historical maximum of more than USD $ 3,500 the ounce on April 21. The unprecedented top occurred in the midst of tensions for tariffs, where macro uncertainty quickly drove investors to the inherited shelter asset par excellence: gold.

Meanwhile, reality in the graphics for Bitcoin (BTC) It was another. At that same moment, the distinguished cryptocurrency was negotiated 20% below its historical record Conquered in January, just above USD $ 87,000.

The greatest digital currency, often called «Digital Gold», It sank less than USD $ 75,000 the week when the president of the United States, Donald Trump, announced a new tariff scheme.

Yes ok Bitcoin had increased at the beginning of the month, the so -called Trump Liberation Day –In line with the bullish action of gold-, Its price soon faced a strong correction as the fears of a commercial war seized the market.

Volatile cryptocurrency behavior pronounced decoupling gold while analysts observed Bitcoin closer to technological actions –risky assets that investors want to avoid in times of crisis.

The correlation BTC and gold touches February levels

However, this week, the dynamics took a turn as Bitcoin It was strengthened to resume levels not seen since February, when the correlation with gold bounced to levels also last observed at the beginning of the year.

Bitcoin It emerged on the USD $ 97,000 on May 1 after a monthly gain of 14% in April and in the midst of an increase in price of more than 4% in the week. The gold, on the other hand, deteriorated 3.57% in the week, to be located on Thursday at USD $ 3,233, when the 30 -day profit practically matched the weekly loss.

Pearson’s correlation of Bitcoin of 30 days, a statistical measure that evaluates the linear relationship between the price movements of Bitcoin With the gold, the S&P 500 and the Nasdaq Composite, it was 0.62 for the yellow metal that day, approaching its annual maximum of 0.73; While that of the stock market rates cited moved away at 0.33 and 0.36, respectively.

This rebound in correlation with gold occurs after a notable episode of “Decoupling“Between both assets in February, when Pearson’s correlation of 30 days collapsed from 0.73 to -0.67 in just three weeks, as the media noticed The Block.

In early February, the price of Bitcoin It was around USD $ 102,000, while the price of an ounce of gold was USD $ 2,800. For the closing of the month, Bitcoin It had become 17% negative to USD $ 84,000, while gold had increased almost 2%.

Since then, the correlation between BTC and Gold has had a strong rebound, as shown by the graph of The Block.

Bitcoin acts as an alternative of coverage

While historical data shows that dynamics usually follow cyclic movements, where BTC and the metal are coupled and decoupled sharply on maximum terms of two weeks, The most recent articulation synchrony with the Macro panorama could suggest something else: a possible change of feeling among investors who come to Bitcoin as an alternative of shelter.

“I think Bitcoin is a better coverage than gold against the reallocation of strategic assets outside the United States“Geoffrey Kendrick said in this line Standard Chartered.

British bank analyst noticed that this dynamic between both assets, where Bitcoin It begins to be strengthened against gold, it has been reflected in the funds quoted in the stock market (ETF). For April 25, the ETF in cash Bitcoin In the US, they had monopolized USD $ 3 billion in a week, while the ETFs of Gold suffered exits of one billion dollars.

Kendrick pointed out the “PERIOD OF THE US Treasury (which has a close correlation with the BTC)“That reached a”12 -year maximum“To indicate a change of feeling. Other chain indicators, such as the recent accumulation of whales and exchanges exits, also suggest that investors are looking at Bitcoin with more optimism than in February.

He added that the last time ETF tickets from Bitcoin They had such a broad margin about gold was the week of the US presidential elections. Two months later, Bitcoin It had increased more than 40% over USD $ 100,000.

Alcist winds for Bitcoin, Right to USD $ 120K?

It is possible that the recent coupling is due to continuous uncertainty about commercial policy, which ultimately favors the perspective of both gold and its digital alternative. The dollar index, on the other hand, has fallen approximately 4% since the beginning of April, further strengthening the relative attraction of Bitcoin and gold.

Investors seem to be putting their cards in both assets at the moment, with a slight inclination in favor of Bitcoinas Macro uncertainty continues to dominate the scene. This could ultimately be beneficial for the evolution of cryptocurrency prices that, according to Kendrick, could be on their way to new maximums before June.

The analyst of Standard Chartered They have projected that Bitcoin I could embrace the upward winds to conquer a height of USD $ 120,000 this same quarter, which would represent an approximate impulse of 24% from the current price of USD $ 97,000.

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Hannah Estefanía Pérez / Diariobitcoin

Image generated with AI tool, under free use license

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