Bitcoin's 90-day correlation with gold tops 50%, study says debt fears are driving it

A recent study reported by Yahoo finds Bitcoin’s 90-day correlation with gold has climbed above 50%. Analysts attribute the rise largely to mounting debt fears and macroeconomic risk—exacerbated by central bank commentary such as Kevin Warsh’s Jackson Hole remarks—which have pushed investors toward assets perceived as stores of value. The consensus implication is that Bitcoin is increasingly moving in tandem with traditional safe-haven assets, reducing its diversification benefit and making it more sensitive to sovereign-debt and monetary-policy shocks.