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Stepn x Adidas Genesis Sneakers: A New Era in Fitness

The Stepn x Adidas Genesis Sneakers Collection: A Revolutionary Partnership The fusion of the digital and physical worlds is more than a trend; it is a burgeoning reality. The recent collaboration between Stepn and Adidas exemplifies this transformative shift. With the launch of the Genesis Sneakers collection, both companies are poised to redefine the boundaries of fitness, fashion, and technology in lifestyle rewards. This partnership is not only groundbreaking but also sets the stage for future innovations in the ever-evolving landscape of fitness applications and digital assets. A New Era of Phygital Experiences Stepn, a pioneering move-to-earn FitTech app, has taken a bold leap by teaming up with a global powerhouse like Adidas. This collaboration signifies a pivotal moment in the fitness and lifestyle sector, as highlighted by Stepn CEO Shiti Manghani: Phygital Partnership : The merging of physical and digital assets marks a new direction for lifestyle rewards. Enhanced...
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Produced by Daniel Aharonoff & Mogul Media AI

Exploring the Growing Correlation Between Bitcoin and Gold

The correlation between Bitcoin and gold prices has surged to new heights in recent months, driven by a bullish end to 2023 and the approval of a spot Bitcoin ETF. Throughout much of Bitcoin's history, its correlation to gold has been volatile, with prices moving mostly independently. However, this relationship tightened after the market crash in 2020 at the onset of the COVID-19 crisis, and it is now approaching historical levels.

Tightening Correlation Between Bitcoin and Gold:

  • The current Bitcoin to gold correlation stands at 0.76, indicating a strong positive correlation.
  • A correlation of 1 would signify a perfect positive correlation between the price of Bitcoin and gold.
  • While not yet at all-time highs, the correlation is steadily increasing, nearing historical levels.

Evolving Relationship with Traditional Finance:

  • Bitcoin's correlation with the S&P 500 is currently at its lowest in more than three years.
  • The correlation between Bitcoin and gold surged to around 75% by the end of 2023, coinciding with global central banks implementing interest rate hikes.
  • The recent introduction of Bitcoin ETFs in the U.S. market marked a significant milestone, further solidifying Bitcoin's transition to a stock-like asset.

Strengthening Kinship Between Bitcoin and Gold:

  • Despite Bitcoin's increasing integration into mainstream finance, its relationship with gold has only grown stronger.
  • The current Bitcoin-gold correlation of 76 is just a few points below the all-time high of 79.
  • This suggests a closer relationship between the two assets, both recognized as robust stores of value by their advocates.

The charts illustrate Bitcoin's ratio to gold escalating steeply throughout 2023, underscoring the tightening correlation between the two assets. This growing relationship reflects the evolving landscape of digital assets and traditional financial markets, highlighting the importance of monitoring these dynamics for investors and analysts alike.

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