The last few weeks brought something interesting in financial markets – Bitcoin decoupled from two correlations that were valid for the entire year so far. One was the negative correlation with the USD. Every time the USD rallied, it did so against Bitcoin. Or, when the USD was sold during a risk-on move, Bitcoin rallied. The other one was against gold. This year Bitcoin and gold had a positive correlation. Since the March meltdown in the stock market that triggered an initial move lower on gold too, stocks corrected, and so did gold. Bitcoin followed gold closely and rose above $10k on gold surging above $2k. ... (full story)