Key Takeaways Bitcoin’s 90-day correlation with gold has climbed above 50%. Its Nasdaq 100 correlation has fallen from above 60% to about 33%. U.S. debt above $40 trillion is strengthening the debasement narrative. Bitcoin’s Correlation Shifts From Nasdaq Toward Gold Bitcoin’s relationship with traditional assets is changing as investors increasingly treat the cryptocurrency as a scarce monetary asset rather than another high-beta technology investment, according to Grayscale. The asset manager said Aug. 27 that bitcoin’s correlation profile has undergone a notable regime shift, potentially reviving its role as a portfolio diversifier. Bitcoin’s 90-day correlation with the Nasdaq 100 has fallen …