-Are Investors Running Away from Bitcoin and Buying Gold: Watch Out for Negative Correlation!-
On-chain analysis platform CryptoQuant has attracted attention with its current analysis on Bitcoin (BTC) and gold.
In the content shared by a 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 reaching new peaks, analysts pointed to the increasing negative correlation.
This current situation was interpreted as investors fleeing to 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, with investors turning to traditional safe-haven assets like gold.''
