Bitcoin is outperforming stocks and correlating with gold just when it matters most

<a href="https://xpertsstudio.com/xrp-ripple-vs-bitcoin/” title=”XRP (Ripple) vs. Bitcoin”>Bitcoin $BTC$79,627.45 is outperforming gold, the Nasdaq 100 index, the S&P 500 and other major asset classes just when it matters most.

The cryptocurrency’s price has surged 26% this month and was recently around $79,200. Gold, meanwhile, has gained 13.8%, with the Nasdaq 100 and S&P 500 indexes adding 4.8% and 3.2%, respectively. Both hard assets lagged early this year but are now climbing faster than stocks, which are already at record highs after a strong run so far in 2026

More importantly, TradingView data shows $BTC’s 30-day correlation with gold has climbed to +0.81, indicating a strong tendency for the two to move in tandem. In contrast, its relationship with the Dollar Index has deepened to -0.86, a sign it’s moved in the opposite direction to the greenback. At the same time, $BTC’s link with the Nasdaq has weakened.

The price outperformance, coupled with the positive correlation with gold and negative correlation with the DXY, underscores bitcoin’s appeal as a store of value and a hedge against fiscal and monetary imprudence.

Concerns about the U.S. fiscal situation recently pushed longer-duration Treasury yields, which influence borrowing costs across the economy, to their highest since 2007. Last week, the U.S. Treasury announced a bond buyback plan aimed at taming yields, an approach best described as kicking the can down the road that falls short of taking real steps, such as curbing spending.

As a result, expectations have built in the marketplace that the Fed will have to intervene and buy truckloads of bonds to cap yields. Friday’s speech by Fed Chair Kevin Warsh at the Jackson Hole Symposium will be closely watched for clues on whether the central bank is open to coordinating with the Treasury or is concerned about losing its independence.

Traders will be listening out for Warsh’s comments on inflation and interest rates. However, his preference for minimal forward guidance makes any major announcement unlikely.

Stay alert!

What’s trending

• Here’s why Warsh’s Jackson Hole speech is a major event for bitcoin and gold (CoinDesk): Federal Reserve Chair Kevin Warsh delivers his first Jackson Hole keynote on Friday at 10 a.m. ET. It is his first major set-piece speech since taking office in May.
• An $XRP treasury company backed by Ripple is a shareholder vote away from Nasdaq (CoinDesk): The U.S. Securities and Exchange Commission cleared the registration for Evernorth, a San Francisco company set up to hold $XRP on its balance sheet, leaving one shareholder vote before it can list on Nasdaq.
• Treasury yields tread water with all eyes on Kevin Warsh’s Jackson Hole keynote speech (CNBC): U.S. Treasury yields were little changed as global investors awaited Warsh’s Jackson Hole speech.
• World shares mostly gain after upbeat results for Nvidia and other tech giants lift U.S. stocks (AP): Shares were mostly higher in Europe and Asia after Nvidia and other technology stocks led an advance on Wall Street. One wild card for inflation has been oil prices, which have been swinging with uncertainty about the war in Iran.

Source: cryptonews.net