BTC's correlation with gold is near historic highs, but recent price action has diverged noticeably

Odaily reports: Coinbase Institutional posted on X that Bitcoin (BTC)'s correlation with gold is near historic highs, but similar correlation does not mean identical returns. Over the past month, BTC rose while gold fell, indicating that even with higher interest rates, marginal capital demand still favors Bitcoin. Coinbase Institutional also noted that BTC's 90-day correlation with gold and its beta to the Nasdaq 100 have both declined.