Eric Balchunas: Bitcoin Volatility Nears Gold Levels

Bloomberg Senior ETF Analyst Eric Balchunas stated on the X platform that Bitcoin volatility and correlation are gradually approaching gold levels, and this trend is being underestimated during the current market correction. He noted that BlackRock's Bitcoin spot ETF (IBIT) has consistently outperformed US equities since the escalation of the Iran conflict, and since its approval, has delivered more than double the excess return compared to the S&P 500 Index ETF (SPY). He added that, based on a 60-day historical volatility comparison between IBIT and the gold ETF (GLD), Bitcoin’s volatility structure is converging toward that of gold, indicating a possible shift in the asset's characteristics.