Bitcoin prices continue to trade between $107,000 and $113,000 at the start of September, due to lower volatility. Meanwhile, Gold is trading near record highs, bringing the spotlight to the correlation between the two assets.
Maartunn, a community analyst at Cryptoquant, observed that Bitcoin has been cut off from gold in a recent tweet.
But… Bitcoin is late.
For the first time in more than six months (since February 2025), the correlation between BTC and gold has become negative.
A fork in the story of a safe shelter. https://t.co/zq5eoqhovr pic.twitter.com/5ctqhwecak
-market (@je_mismun) September 4, 2025
According to Maartunn, for the first time in more than six months (since February 2025), the correlation between BTC and gold has been negative. Analysts suggest that this change could mean the divergence of the story of a safe haven.
Bitcoin rose its rebound from its $107,250 low on September 1, reaching a $112,600 high before retreating on Wednesday for three days.
At the time of writing, Bitcoin has fallen 0.7% to $110,578 over the past 24 hours. Spot Gold has traded just over $3,500 after its first level before.
The market is waiting for the next move
As Bitcoin prices consolidate, the market is targeting the next move, taking the long-awaited clues on the Fed’s interest rate positioning from its September meetings scheduled for the 16th and 17th.
In the latest economic data release, private pay rose at just 54,000 in August, below the expected 75,000 for Dow Jones economists, down from the 106,000 increase they saw in the past month.
Jobless’s claim has risen to 237,000, an increase of 8,000 from the previous week, providing further evidence of a slowdown in the labour market. This follows, investors will turn their attention to Friday’s big employment report.
Labor market concerns have prompted traders to build on bets that the Federal Reserve could potentially cut fees at meetings later this month, with the odds now reaching 97.4%.
