On-chain analysis platform CryptoQuant has attracted attention with its current analysis of Bitcoin (BTC) and gold.

In the content shared by the CryptoQuant analyst on September 13, he made an evaluation of Bitcoin and gold. Analysts who stated that Bitcoin has recently diverged from gold and that gold has left Bitcoin behind by reaching new highs, pointed to the increasing negative correlation.

This current situation was interpreted as investors fleeing to the safe haven gold and moving away from risky assets such as Bitcoin:

Bitcoin diverged from gold as prices fell after gold reached record levels.

This negative correlation indicates a risk-averse market where investors are turning to traditional safe haven assets such as gold.

According to CoinGecko data, Bitcoin, which has increased by 1% in the last 24 hours, is trading at $58,170 at the time of writing.