Bloomberg analysts: Bitcoin volatility is converging with gold, while IBIT is still significantly outperforming US stocks.

CoinFeed reported on May 30th that Eric Balchunas, a senior ETF analyst at Bloomberg, pointed out in an article on the X platform that Bitcoin's volatility and correlation are increasingly approaching gold levels. This trend is significantly underestimated in the current market correction and may be a positive sign amid recent market turmoil. Despite significant market volatility, the BlackRock Bitcoin Spot ETF (IBIT) has consistently outperformed US stocks since the escalation of the conflict in Iran, and has achieved more than 2 times the excess return of the S&P 500 ETF (SPY) since the BlackRock ETF was approved. Eric Balchunas added that, based on a comparison of the 60-day historical volatility of IBIT and the Gold ETF (GLD) since their inception, it can be seen that Bitcoin's volatility structure is gradually converging with that of gold, indicating that its asset attributes may be changing.