As the global bull market soars, are Bitcoin and gold drifting apart? The correlation is almost zero, and the new rules of the market have taken shape!

In the past 12 months, the Total World Indices has risen by 28%, driving the boom of both Bitcoin and gold. Although gold has reached an all-time high, Bitcoin is still 6% below its all-time high, but this does not mean that the two continue to "move in the same direction". Shockingly, the standard correlation value between Bitcoin and gold has dropped sharply from 50% four years ago to almost zero - now there is almost no correlation between the two.

Looking back at 2020, the 90-day rolling return rate of Bitcoin and gold had a positive correlation of 50%. However, the current market rules are obviously different, and Bitcoin has completely deviated from the price trajectory of gold. Data shows that the current 90-day correlation between the two is only 0.04, with almost no intersection.

This means that the rise and fall of Bitcoin no longer depends on the fluctuations of gold, and independent market conditions have become a foregone conclusion. So, under this new game rule, who is the real master of the market?

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