Bitcoin continues to be rejected at the $90,000 level as its correlation with gold turns negative.

On the 12-hour timeframe, the correlation coefficient between Bitcoin and gold has dropped to around -0.14, a clear reversal from the positive correlation recorded at the end of November. The negative correlation indicates that BTC and gold are moving in opposite directions, breaking the familiar pattern seen for much of the fourth quarter, when Bitcoin typically benefited from safe-haven flows similar to gold.

Notably, Bitcoin continues to be rejected at the psychological $90,000 mark amid weakening correlation with gold. According to data from TradingView, periods when BTC deviates from gold's trajectory often reflect a shift in investor risk appetite. Capital tends to move away from safe-haven assets, but historically, this also signals potential short-term volatility for Bitcoin, rather than an immediate, sustained uptrend.

When Bitcoin loses its alignment with gold during corrections, the market typically enters a volatile phase where prices fluctuate erratically before forming a clearer trend. On the downside, the $86,000–$87,000 range is currently acting as crucial support, having absorbed selling pressure on several occasions recently. If this area is broken, the next likely level of liquidity will likely be around $83,000.

Conversely, buyers need a decisive breakout and a stable close above $90,500 to negate the descending top structure and restore upward momentum. In the current context, BTC's repeated failure to break the $90,000 mark, combined with a negative correlation with gold, suggests the market is still hesitant between weakening macroeconomic pressures and insufficient spot buying demand. Until key technical levels are broken, Bitcoin is likely to continue trading sideways within a narrow range, with increased volatility as the correlation structure continues to shift.


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