PANews reported on April 29, according to The Block, that on April 25, the 30-day Pearson correlation coefficient between Bitcoin and gold reached 0.54, approaching the annual high of 0.73. Previously in February, the two had "decoupled," with the correlation coefficient plummeting from 0.73 to -0.67 within three weeks. At the beginning of February, Bitcoin was priced around $102,000, and gold was $2,800 per ounce; by the end of February, Bitcoin had fallen to $84,000, and gold had risen to $2,850, causing the price difference to lead to a sharp drop in the correlation coefficient. Since then, the coefficient has rebounded sharply to 0.52, possibly due to macroeconomic uncertainty triggered by U.S. tariff hikes.

From a historical pattern perspective, this "recoupling" can be attributed to cyclical fluctuations. Since 2020, the correlation coefficient has approached or fallen below -0.50 eighteen times, with a rebound in seventeen instances within a week, with December 2022 as an exception. Historically, whenever the coefficient dropped to -0.50 or lower extreme levels, a strong "recoupling" of the correlation between Bitcoin and gold would follow, typically rising back to 0.8 or higher before starting a new cycle of "decoupling."