Bloomberg Analyst: Bitcoin's Volatility Structure Gradually Converges with Gold, Asset Attributes May Be Changing

Odaily Planet Daily News: Eric Balchunas, Senior Bloomberg ETF Analyst, posted on X platform, pointing out that Bitcoin's volatility and correlation are increasingly approaching the level of gold. This trend is clearly underestimated in the current market adjustment and could be a positive signal amidst recent market turmoil. Based on the 60-day historical volatility comparison data of IBIT and the gold ETF (GLD) since their launch, it can be observed that Bitcoin's volatility structure is gradually converging with gold, indicating that its asset attributes may be undergoing changes.

Eric Balchunas added that despite the volatile market environment, the BlackRock Bitcoin Spot ETF (IBIT) has continued to outperform U.S. stocks since the escalation of the Iran conflict. Since the approval of the BlackRock ETF, it has achieved more than double the excess returns compared to the S&P 500 Index ETF (SPY).