Bitcoin’s correlation with gold climbs toward all-time high

The Bitcoin–gold correlation has risen ￰0￱ to analysts, BTC is increasingly behaving like ￰1￱ seen as a speculative asset, it has now established itself as a safe haven and a store of value. On-chain data shows that the BTC-gold correlation currently stands above 0.85, up from -0.8 in October ￰2￱ is close to the all-time high (ATH) correlation of around 0.9 in April last ￰3￱ keeps hitting new ATHs. BTC-Gold correlation is high; digital gold narrative still ￰4￱ hedge demand isn’t dead ￰5￱ — Ki Young Ju (@ki_young_ju) October 14, 2025 According to Andrei Grachev, managing partner at DWF Labs, the correlation shows how institutional investors perceive Bitcoin.

“It was once actively used as currency before becoming primarily a store of ￰6￱ appears to be following a similar trajectory, which explains why its price movements increasingly echo gold’s dynamics,” he said. Bitcoin’s scarcity surpasses that of gold So far, 2025 has been a year of ￰7￱ remain anxious due to news of potential tariffs, geopolitical risk remains elevated, and the market swings with each new ￰8￱ that end, investors are seeking safe havens such as ￰9￱ has had a phenomenal year, returning over 30% at the end of ￰10￱ last time gold saw gains of this magnitude was 15 years ago in ￰11￱ 2010, however, investors are starting to see Bitcoin as another potential safe haven to weather ￰12￱ designed to function much like a currency, Bitcoin is now the most widely accepted crypto asset, accounting for more than 55% of the total crypto market ￰13￱ both of them to be seen as store value, they must be scarce.

Gold’s supply grows very slowly. A report from Goldman Sachs claims that new annual production adds just over 1% to the existing stock and is stable and ￰14￱ a result, when demand grows, it is difficult to increase supply ￰15￱ constraint ultimately helps drive up the value of ￰16￱ is ￰17￱ has a fixed supply, with the final token projected to be mined by 2140. Bitcoin’s scarcity is now even greater than gold’s, as measured by its stock-to-flow ratio, which is the existing supply relative to annual ￰18￱ April 2024, BTC surpassed gold as the asset with the highest stock-to-flow ratio among liquid and easily tradable ￰19￱ M2 money supply growth is taken into account, Bitcoin has regularly hit record highs, while gold is still below its peak from ￰20￱ give Bitcoin almost an equal chance as gold A notable difference is reflected in the respective volatility of the two ￰21￱ has a long-term volatility of approximately 15%.

Bitcoin’s volatility, meanwhile, has decreased as it has gained greater legitimacy, but over the past five years, it has still averaged approximately 40%. That level of volatility is hardly consistent with what one would expect from an asset used as a safe ￰22￱ evolving narrative around Bitcoin’s role is further reinforced by BlackRock’s analysis, which positions the king coin as a unique diversifier uncorrelated to traditional ￰23￱ gold initially outperformed Bitcoin in 2025, BlackRock’s data shows Bitcoin outpaced gold in five of six major geopolitical crises over 60-day periods, challenging its reputation as a volatile speculative asset. Additionally, Tether has applied a dual strategy of investing in both Bitcoin and gold, highlighting the complementary roles of the two ￰24￱ Paolo Ardoino emphasized that both serve as inflation hedges and long-term stores of ￰25￱ allocated 15% of its net profits to Bitcoin and backed its XAUt token with 7.66 tons of physical ￰26￱ to entrepreneur Anthony Pompliano, institutions now recognize that “no one is ever going to stop printing money,” driving demand for hard assets.

Meanwhile, gold prices surged to an all-time high of $4,179.48 per ￰27￱ gold rose 0.5% to $4,128.49, while US gold futures for December delivery climbed to $4,158. The metal has already gained 57% this year, driven by geopolitical ￰28￱ the other hand, BTC hit its all-time high of over $125k. The coin has, however, seen a decline of 2.37% in the last 24 hours and an 8% decline in the last ￰29￱ is now trading at $112,030. Claim your free seat in an exclusive crypto trading community - limited to 1,000 members.