81% correlated with gold: Is Bitcoin just another macro derivative now?


- digital assets currently show an 81% correlation with gold and trade as rates-sensitive macro instruments. This reality triggered $82 million in net outflows from U.S. spot Bitcoin ETFs as institutional investors adjusted their portfolios to the new tight monetary environment.
- internal market mechanics worsened the downturn when high leverage acted as a severe accelerant. The macro contraction triggered a derivatives squeeze that caused $144.29 million in Bitcoin long liquidations and wiped out overleveraged participants who failed to manage their downside risk.
BTC-2.05%
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