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Newswire · Crypto · Fri, Oct 16, 2026

Bitcoin's gold correlation hits highest since November 2020, Block Scholes says

Block Scholes analyst Thahbib Rahman says bitcoin's 90-day rolling correlation with gold is at its highest since November 2020, as investors look for alternative hedges while gold trades above $4,100 an ounce.

Market context · CryptoSpot as of 2026-10-16 00:41 UTC · AISA CoinGecko API
BTCBitcoin
$82,321 +1.03%
BTC 7d price: 81,686 → 82,376 (+0.85%), range 80,806–83,923
7d +0.38%
ETHEthereum
$2,442 +1.01%
ETH 7d price: 2,473 → 2,454 (-0.77%), range 2,357–2,562
7d -1.39%
XRPXRP
$1.34 +0.68%
XRP 7d price: 1.38 → 1.34 (-2.94%), range 1.3–1.42
7d -3.53%
SOLSolana
$105.48 +1.18%
SOL 7d price: 109.51 → 105.71 (-3.47%), range 102.13–112.52
7d -4.48%
COINCoinbase Global Inc
$172.89 -4.90%
COIN 30d price: 174.96 → 172.89 (-1.18%), range 164.51–201.07
30d +0.45%
MSTRStrategy Inc
$143.24 -5.87%
MSTR 30d price: 123.19 → 143.24 (+16.28%), range 123.19–168.5
30d +10.52%
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01

Bitcoin trades more like gold, Block Scholes says

In a note published on Thursday, October 15, 2026, Block Scholes research analyst Thahbib Rahman said bitcoin's correlation with gold has reached its highest level since November 2020. He said the 90-day rolling correlation began climbing in June and accelerated in August, after the US Treasury stepped up its bond buyback programme to cap longer-dated yields. Gold has pushed back above $4,100 an ounce but faces headwinds from persistent inflation fears and hawkish central banks. Rahman said the move has revived debate over bitcoin's digital-gold narrative, and investors may increasingly treat it as a supplementary safe haven.

Why it mattersA rising gold correlation suggests some investors treat bitcoin as a hedge against currency debasement, which could change how it is sized and traded in portfolios.

kitco.com · Oct 15BTC +1.03%
02

Bitcoin and ether slip on hot inflation data; analyst urges patience

A Kitco commentary by Aaron Dishner said bitcoin fell another 1.79% on Wednesday, October 14, likely because inflation numbers came in hot. He does not see the dip as a buying opportunity yet, noting RSI was still at 39. Ether closed down 3% but held short-term support, and he would buy if it reached its Slow line at $2,104. Bitcoin dominance rose to 60.46%, which he reads as an exhaustion breakout rather than a bullish price signal. He warns of building altcoin Close Long signals while the broader macro trend stays bullish.

Why it mattersBitcoin's rising dominance and hot inflation readings point to a cautious backdrop for altcoins, while one analyst's price levels show where dip buyers may step in.

kitco.com · Oct 15BTC +1.03%ETH +1.01%
03

Coinbase shares lag the market as institutions add to stakes

Coinbase shares have lost 23.5% year to date, against a 14.3% gain for the industry, according to a Zacks analysis. It cites a crypto slowdown, lower trading volumes and weaker-than-expected earnings. The stock trades at a 12-month forward price-to-earnings of 72.51X against an industry average of 15.05X, and the Zacks consensus for 2026 is a loss of 50 cents per share. Separately, MarketBeat reported that the State of Alaska Department of Revenue raised its Coinbase position by 456.7% in the third quarter, to 121,330 shares, per its latest 13F filing.

Why it mattersCoinbase pairs a premium valuation with falling shares and expected losses, while some institutional holders keep adding. That split shapes how investors read crypto exchange exposure.

TradingView · Oct 15MarketBeat · Oct 15COIN -4.90%
04

Saylor predicts new bitcoin bull market as Strategy keeps paying preferred dividends

Strategy executive chairman Michael Saylor publicly predicted a major new bitcoin bull market, linking his view to recent regulatory outcomes that he described as a positive shift for the crypto industry. Simply Wall Street notes the company continues to pay a 12.00% rate on its STRC preferred and to declare semi-monthly dividends of $0.50. Its next checkpoints are the October 31 dividend and, if conditions are met, the November 15, 2026 dividend. The outlet also flags two warning signs at the company, including share price volatility and past share issuance.

Why it mattersStrategy's bullish bitcoin thesis is tied to the cost of funding its balance sheet through high-yielding preferred stock, so dividend payments are a signal to monitor.

Simply Wall Street · Oct 15MSTR -5.87%BTC +1.03%
05

BitFuFu and Finloop launch BTC-denominated Hashrate Token

BitFuFu (NASDAQ: FUFU) announced on October 13, 2026 a partnership with Finloop to launch the Hashrate Token, or HASH, an on-chain note denominated in bitcoin. Returns are linked to the output of mining hashrate that BitFuFu manages, with payouts drawn from newly mined bitcoin. The notes run on Ethereum and Solana, carry a twelve-month term and prorate returns by holding period. Access is limited to eligible investors who pass KYC and AML checks. In September BitFuFu mined 167 BTC and held 1,388 BTC, with hashrate under management at 19.4 EH/s.

Why it mattersThe product shows miners packaging hashrate as tokenized real-world-asset notes, giving eligible investors mining exposure without running equipment, though mining output becomes the key risk.

tradingview.com · Oct 15BTC +1.03%ETH +1.01%SOL +1.18%
06

Australia puts crypto tax transparency draft before Parliament

The Australian Treasury submitted draft legislation to Parliament on Thursday, October 15, 2026. It would implement international and domestic digital asset transparency frameworks intended to help tax officials collect and share cryptocurrency data. Law360 reported the news; the draft legislation and explanatory materials were attached to the article, but the full text sits behind a registration wall.

Why it mattersCrypto reporting rules are tightening in major jurisdictions, which could raise compliance requirements for exchanges, custodians and users operating in Australia.

law360.com · Oct 15

Data behind the stories

Bitcoin traded at $82,321 as of 2026-10-16 00:41 UTC, up 1.03% over 24 hours and up 0.38% over seven days, while ether at $2,442 was down 1.39% on the week. COIN closed at $172.89 on 2026-10-14, down 4.90% on the day, and MSTR closed at $143.24, down 5.87%. On Polymarket, the October contract for bitcoin reaching 85,000 stood at 64.5%.

Recent performanceInstruments in today’s stories
Recent change: MSTR 30d +10.52%, COIN 30d +0.45%, BTC 7d +0.38%, ETH 7d -1.39%, XRP 7d -3.53%, SOL 7d -4.48%MSTR 30d+10.52%COIN 30d+0.45%BTC 7d+0.38%ETH 7d-1.39%XRP 7d-3.53%SOL 7d-4.48%
What price will Bitcoin hit in October?Polymarket · $7.47M traded · market-implied, not a forecast
What price will Bitcoin hit in October?: ↑ 85,000 64.5%, ↓ 80,000 54.5%, ↑ 87,500 39.5%, ↓ 77,500 37.5%, ↑ 90,000 23.5%↑ 85,00064.5%↓ 80,00054.5%↑ 87,50039.5%↓ 77,50037.5%↑ 90,00023.5%

What to watch

  • Strategy's STRC dividends are due on October 31 and, if conditions are met, November 15, 2026. Simply Wall Street
  • Australian Parliament will weigh the Treasury's draft crypto tax transparency legislation submitted on October 15, 2026. law360.com

Key takeaways

  • Bitcoin's 90-day correlation with gold is at its highest since November 2020, per Block Scholes.
  • Hot inflation data weighed on bitcoin and ether on October 14, and bitcoin dominance rose to 60.46%.
  • Coinbase is down 23.5% year to date and trades at 72.51X forward earnings versus a 15.05X industry average.

FAQ

Is bitcoin behaving like gold?

According to Block Scholes analyst Thahbib Rahman, bitcoin's correlation with gold is at its highest level since November 2020. The 90-day rolling correlation began rising in June and accelerated in August after the US Treasury stepped up bond buybacks.

Why did bitcoin fall on October 14, 2026?

A Kitco commentary said bitcoin dropped another 1.79% on Wednesday, likely because inflation numbers came in hot. The author said RSI was still at 39 and did not consider the dip deep enough to buy.

What is BitFuFu's Hashrate Token?

HASH is a bitcoin-denominated on-chain note announced on October 13, 2026 with Finloop. Its returns are linked to mining output from hashrate BitFuFu manages. It runs on Ethereum and Solana, has a twelve-month term and is limited to eligible investors.

The wire

Every item considered for this digest, newest first — published within 48h of 2026-10-16 00:42 UTC.

How this digest is made. Headlines and article text come from the AISA Financial News and Tavily APIs; only items published in the last 48 hours are eligible, and duplicates across outlets are merged. A language model writes the summaries strictly from those texts and the live market data shown — every story links to its sources. Market data: AISA Financial, CoinGecko, Polymarket and Macro APIs.

Sources & citations

  1. Bitcoin is starting to behave more like gold as investors seek alternative hedges – Block Scholes kitco.com · 2026-10-15
  2. Bitcoin pullback deepens as Altcoin warnings build kitco.com · 2026-10-15
  3. Coinbase Global Stock Drops 24% YTD: Time to Buy the Dip? TradingView · 2026-10-15
  4. Coinbase Global, Inc. $COIN Stock Position Boosted by State of Alaska Department of Revenue MarketBeat · 2026-10-15
  5. Strategy (MSTR) Executive Chairman Michael Saylor Calls For A New Bitcoin Bull Market Simply Wall Street · 2026-10-15
  6. BitFuFu and Finloop launch Hashrate Token, a BTC-denominated note tied to mining output tradingview.com · 2026-10-15
  7. Australian Parliament Weighs Crypto Tax Transparency Rules law360.com · 2026-10-15

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