🔴Gold and Bitcoin have been moving in tandem since late Q2

This is a notable reversal from the dominant trend across the whole of 2026. Throughout most of 2026, the market story was a strong divergence between gold and $BTC as the correlation coefficient between the two assets fell to its most negative level in years (at one point hitting -0.88, the lowest since 2022).
The correlation coefficient turning positive again since mid-June suggests that both are responding to the same factor—most likely overall market liquidity—rather than Gold continuing to play the safe-haven role while BTC is a separate risk asset as before.