Bitcoin Volatility Converges With Gold as IBIT Outperforms SPY by 2x Since Launch, Analyst Says

BTC-0.22%
XAUUSD0.99%
IBIT0.07%
According to Bloomberg senior ETF analyst Eric Balchunas on May 30, Bitcoin's volatility and correlation are increasingly converging with gold levels, a trend he characterized as an underappreciated positive signal in recent market turmoil. BlackRock's Bitcoin spot ETF (IBIT) has continued to outperform the S&P 500 ETF (SPY) since the Iran conflict escalation, delivering over 2x excess returns compared to SPY since IBIT's approval. Balchunas noted that 60-day historical volatility comparisons between IBIT and the Gold ETF (GLD) show Bitcoin's volatility structure is gradually aligning with gold, suggesting a potential shift in its asset characteristics.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments