Bloomberg Analyst: Bitcoin's Volatility Structure Gradually Aligns with Gold, Asset Characteristics May Be Shifting

Odaily Planet Daily News: Eric Balchunas, Senior Bloomberg ETF Analyst, stated on platform X that Bitcoin's volatility and correlation are increasingly approaching the levels of gold. This trend is significantly underestimated in the current market correction and could be a positive signal amidst recent market turbulence. Based on a comparison of the 60-day historical volatility data between IBIT and the gold ETF (GLD) since their launch, Bitcoin's volatility structure is gradually converging with gold, suggesting a potential shift in its asset characteristics.

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