Bitcoin’s 90-day correlation with the Nasdaq has dropped from over 60% to 33%, while its correlation with gold has crossed above 50%, a level unseen since the start of the year. This reorientation coincides with US public debt crossing the $40 trillion threshold, a historical record. Gold trades around $4,613 per ounce while Bitcoin hovers around $79,500, driven by growing interest in safe-haven assets amid deteriorating US fiscal fundamentals. The 2026 deficit is projected at $1.9 trillion by the Congressional Budget Office, and Bank of America forecasts US debt reaching $50 trillion by July 2029.
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