Bloomberg Analyst: Bitcoin volatility is converging with gold, IBIT still significantly outperforms US stocks

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Deep Tide TechFlow News, May 29 — Bloomberg Senior ETF Analyst Eric Balchunas posted on X platform that Bitcoin's volatility and correlation are increasingly approaching gold levels. This trend is significantly underestimated amid the current market correction and could be a positive signal amid recent market turbulence. Despite the volatile market environment, BlackRock's Bitcoin Spot ETF (IBIT) has continued to outperform U.S. stocks since the escalation of the Iran conflict, achieving more than double the excess return compared to the S&P 500 ETF (SPY) since BlackRock's ETF approval.

Eric Balchunas added that, based on the 60-day historical volatility comparison data between IBIT and Gold ETF (GLD) since their launch, Bitcoin's volatility structure is gradually aligning with gold, indicating that its asset characteristics may be changing.

IBIT0.07%
BTC0.31%
PAXG1.04%
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