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#BTCGoldCorr+0.50 Bitcoin’s 90-day correlation with spot gold has climbed to approximately +0.50, its highest reading since 2020. Meanwhile, Bitcoin’s relationship with the Nasdaq has weakened toward a one-year low. Bitwise argues that investors are increasingly buying Bitcoin and gold together as protection against fiscal instability, currency debasement and concerns about long-term government debt. The development strengthens Bitcoin’s “digital gold” narrative, but correlations can change rapidly. Bitcoin remains much more volatile than gold and may still behave like a leveraged risk asset during liquidity shocks. The current relationship may be specific to an environment of Treasury intervention, a softer dollar and inflation uncertainty. Rather than concluding that Bitcoin has replaced gold, it is more reasonable to say that investors are temporarily assigning both assets a similar macro role. Dollar performance, real yields and ETF flows will help determine whether the trend lasts.