Bitcoin's volatility is increasingly aligning with gold, according to Bloomberg's senior ETF analyst Eric Balchunas. This trend, noted amid current market corrections, suggests a shift in Bitcoin's asset attributes. Despite market fluctuations, the BlackRock Bitcoin Spot ETF (IBIT) has outperformed US stocks, delivering over twice the excess return of the S&P 500 ETF (SPY) since its approval. Balchunas highlighted that the 60-day historical volatility data shows Bitcoin's volatility structure is converging with gold, potentially signaling a positive development in the crypto market.
Bitcoin Volatility Nears Gold Levels, IBIT Outperforms US Stocks
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