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Bitcoin changes after BlackRock\'s IBIT, analyst says volatility falls and outperforms S&P 500

Bitcoin’s 60-day historical volatility is moving closer to the level seen in spot gold exchange-traded funds, an analysis showed. Eric Balchunas, BlackRock’s senior ETF analyst, said Bitcoin’s volatility and correlation with gold are converging quickly. Since BlackRock’s iShares Bitcoin Trust began operations, Bitcoin’s volatility has fallen and now exceeds the level of spot gold ETFs. He also said IBIT has outperformed stocks and has more than doubled SPY since BlackRock filed for a spot bitcoin ETF.