Биткоин и золото достигли рекордной корреляции: цифровое золото на подъёме Translation: Headline: Bitcoin and gold reach record correlation: digital gold on the rise

The correlation between the first cryptocurrency and the primary precious metal has nearly reached a historical high of 0.9. Currently, the figure stands at 0.85, as noted by CryptoQuant CEO Ki Young Ju.

*»Gold continues to set new records. Its relationship with Bitcoin remains strong; the narrative of digital gold is still alive. The demand for inflation protection has not faded,»* he wrote.

Andrey Grachev, managing partner at DWF Labs, drew a parallel with the historical evolution of the precious metal.

*»Gold was actively used as a currency before it became a means of preserving value. Bitcoin is following the same path, which explains the synchronization of price movements of these assets,»* he commented to Cointelegraph.

The expert emphasized that capital naturally flows into assets seen as stable stores of value.

On October 14, the precious metal set a new price record, reaching $4,179.48 per ounce.

At the time of writing, Bitcoin is trading around $110,800, which is 11.9% lower than its historical peak of $126,080, achieved in August.

It’s worth mentioning that macro analyst Luke Gromen explained the role of the first cryptocurrency as digital gold.