On-chain analytics platform CryptoQuant has garnered attention with its updated 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. Stating that Bitcoin has recently diverged from gold and that gold has left Bitcoin behind by climbing to new heights, analysts pointed to the increasing negative correlation.
This current situation has been interpreted as investors fleeing to safe haven gold and moving away from risky assets such as Bitcoin:
Bitcoin has diverged from gold, with prices falling as gold reached record highs.
This negative correlation indicates a risk-averse market, with investors turning to traditional safe-haven assets like gold.
According to CoinGecko data, Bitcoin, which has increased by 1% in the last 24 hours, is traded at $58,170 at the time of writing.
Stay tuned for new information.
