Bitcoin-Gold Correlation Hits Zero; BTC Eyes $150K Rally Now

Bitcoin's gold correlation falls to zero and may flip negative — historically preceding ~56% rallies and a potential $144k–$150k target amid easing liquidity.

  • Bitcoin’s 52-week correlation with Gold has hit zero for the first time since mid-2022 and could turn negative by the end of January.
  • Historical instances show an average BTC rally of about 56% within two months after correlation with gold turned negative.
  • One past exception occurred in May 2021 when regulatory and corporate actions forced a market downturn.
  • Rising global liquidity and the end of the Federal Reserve’s quantitative tightening are cited as bullish macro tailwinds.
  • Analysts and fractals suggest a potential $144,000–$150,000 range if the 56% advance materializes.

Bitcoin’s 52-week correlation with gold recently fell to zero for the first time since mid-2022 and market observers say it may turn negative by the end of January. Analysts link this shift to liquidity trends and cycle patterns that historically preceded strong Bitcoin rallies.

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In four comparable past cases, Bitcoin rallied by an average of 56% within roughly two months after its correlation with gold turned negative. The pattern failed in May 2021, when Bitcoin fell about 26% amid Tesla suspending Bitcoin payments and intensified Chinese crackdowns on mining and trading, which triggered forced deleveraging across the market.

Observers point to macro tailwinds supporting a bullish outlook now, including rising global M2 liquidity and the end of the Federal Reserve’s quantitative tightening. In their latest report, Matt Hougan of Bitwise Asset Management said “As a new monetary easing cycle has begun globally and with the Fed’s QT program ending, it is likely that we will see this growth rate continue to the upside throughout 2026, a positive catalyst for Bitcoin’s price.”

The report noted that under similar macro conditions, gold rose about 65% in 2025 while Bitcoin’s returns were nearly flat, and it suggested “Although gold and Bitcoin occasionally move in tandem, their long-term correlation is only mildly positive, which we somewhat counterintuitively find attractive.” Analyst Tuur Demeester also said that “accelerated money printing remains a major tailwind for Bitcoin” in 2026.

A long-term fractal shared by analyst Midas shared compares the 2024–2026 structure to the 2020–2021 cycle, showing a downtrend, multi-month accumulation, and a pre-bull breakout. A 56% gain from current levels would place Bitcoin in the roughly $144,000–$150,000 range, a target cited if the fractal continues to play out.

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