#密码资产动态追踪 The correlation between Bitcoin and gold has dropped to -0.18. What does this turning point mean? Historically, whenever the two shift from high correlation to divergence, $BTC usually begins at least a 50% rally. The major bull markets in 2017 and 2021 both started from such divergence.

Gold, as a traditional safe-haven asset, has a relatively fixed role. But Bitcoin has already broken through the label of "digital gold"—policy environment is improving, and the outlook for US crypto regulation is becoming more relaxed; institutional participation is unprecedented, with even Saudi sovereign funds building positions; capital flows are becoming increasingly clear. These are not guesses but real market signals. From a technical perspective, the decentralized mechanism of blockchain and cryptographic barriers provide a competitive edge that traditional metal assets simply cannot match.

Concerns about risk are also worth dissecting. The latest data shows that the 30-day volatility of $BTC has fallen below gold, reflecting increased market maturity. More importantly, 76% of circulating supply is now locked by long-term holders, making the token structure more stable than ever. From another angle, when correlation is high, many choose to wait and see; now, clear divergence signals have already appeared—what are we waiting for?

While each market cycle is not exactly the same, cyclical patterns are often surprisingly similar. This upward window triggered by the shift from positive to negative correlation, if missed, might take years to encounter again. The acceleration of the train is already perceptible.