# Crypto News, 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…

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- **Updated:** 2026-10-16
- **Category:** news
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## Key data

- **Desk:** Crypto
- **Date:** Fri, Oct 16, 2026
- **Stories:** 6
- **Outlets cited:** 6
- **Items screened:** 12
- **Freshness:** last 48h

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. ## 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 …

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## Sources

1. [Bitcoin is starting to behave more like gold as investors seek alternative hedges – Block Scholes](https://www.kitco.com/news/article/2026-10-15/bitcoin-starting-behave-more-gold-investors-seek-alternative-hedges-block)
2. [Bitcoin pullback deepens as Altcoin warnings build](https://www.kitco.com/opinion/2026-10-15/bitcoin-pullback-deepens-altcoin-warnings-build)
3. [Coinbase Global Stock Drops 24% YTD: Time to Buy the Dip?](https://www.tradingview.com/news/zacks:0e322aa3e094b:0-coinbase-global-stock-drops-24-ytd-time-to-buy-the-dip/)
4. [Coinbase Global, Inc. $COIN Stock Position Boosted by State of Alaska Department of Revenue](https://www.marketbeat.com/instant-alerts/filing-coinbase-global-inc-coin-stock-position-boosted-by-state-of-alaska-department-of-revenue-2026-10-15/)
5. [Strategy (MSTR) Executive Chairman Michael Saylor Calls For A New Bitcoin Bull Market](https://simplywall.st/stocks/us/software/nasdaq-mstr/strategy/news/strategy-mstr-executive-chairman-michael-saylor-calls-for-a)
6. [BitFuFu and Finloop launch Hashrate Token, a BTC-denominated note tied to mining output](https://www.tradingview.com/news/cryptobriefing:56417486a094b:0-bitfufu-and-finloop-launch-hashrate-token-a-btc-denominated-note-tied-to-mining-output/)
7. [Australian Parliament Weighs Crypto Tax Transparency Rules](https://www.law360.com/articles/2538366/australian-parliament-weighs-crypto-tax-transparency-rules)

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