Futures COT Analysis: CME BTC and COMEX GC

Correlation between bitcoin and gold has been one of the favourite industry-related topics lately. Bitcoin’s key narrative as “digital gold” has been relevant as the asset is considered to be in the same scarce resource segment with physical gold. In 2019, bitcoin’s correlation with gold grew from May negative values to positive 0,17 in early July. Towards Q1 2020 the correlation has been weakening with 0,09 by the…