Bitcoin-Gold Correlation Spikes on Macro Risks; Shiba Inu (SHIB) Whale Presence Shrinks to Just 0.04%; Binance Secures $600 Million Tokenization Milestone: Founder Reacts — Morning Crypto Report
TL;DR:BTCs 90-day correlation with gold reverses from -0.9 to +0.7 as fiscal and geopolitical risk drives capital into both assetsSHIB whale wallets shrink to 0.04% of holders while retaining 94.57% of supply, price stalls near $0.00000449 supportBinances bStocks captures 27% of the tokenized stock market, holder base up 399% to 222,351 addresses on $619.57 million in assetsBTC holds below the 50-day SMA at $64,316, with a break above $67,000 opening a path toward $71,000 amid Fed liquidity support and Ethereum staking inflows Is “digital gold” back? Amid U.S. fiscal pressure and geopolitical tensions, Bitcoin has become tightly linked to gold. According to CryptoQuant, their 90-day correlation has undergone a radical reversal, soaring from -0.9 in the winter to +0.7 by August 2026. CryptoQuant CEO Ki Young Ju says the era of “digital gold” is returning, while spot ETFs are only accelerating the process by allowing funds to buy both assets within the same portfolios. Bloomberg Intelligence senior analyst Mike McGlone, however, suggests valuing assets not in dollars but in ounces of gold. From this perspective, the Bitcoin-to-gold ratio of 1.86 and the Ss rise is largely technical, as older negative data from the beginning of the year are simply rolling out of the calculation