Grayscale: Bitcoin-Gold Correlation Exceeds 50%, Debasement Trade May Return

The crossing of the 50% correlation threshold is a notable regime signal, as it suggests Bitcoin is increasingly trading less like a risk asset and more like a monetary hedge. This matters for portfolio allocators who have long debated Bitcoin's role relative to gold, and for market watchers tracking whether macro shifts—like inflation expectations or fiat concerns—are driving flows. The key question is whether this correlation holds during volatility or snaps back, which would reveal if the debasement narrative is structural or just a temporary phase. Watch central bank policy and real-yield movements as the test for this linkage.