Source: Cointelegraph
Original: “Galaxy Digital: Bitcoin (BTC) Volatility Lower Than S&P 500 and Nasdaq, Rare Change Occurs”
Bitcoin (BTC) achieved double-digit growth in April against expectations, while its volatility was lower than that of major traditional assets.
According to data from Galaxy Digital analysts, Bitcoin's actual volatility fell to 43.86 over the past 10 trading days, lower than the S&P 500's 47.29 and the Nasdaq 100's 51.26—an unusual "positioning" for a digital asset traditionally known for high volatility.
This data point comes against the backdrop of renewed financial turmoil. Since U.S. President Trump announced the liberation day tariff policy on April 2, traditional markets have experienced volatility.
In a report on May 12, Galaxy Digital analysts noted that the Nasdaq Composite Index performed flat, the Bloomberg Dollar Index fell nearly 4%, and even gold (often seen as a safe-haven asset) briefly touched $3,500 per ounce before retracting to a 5.75% gain.
However, they pointed out that Bitcoin rose 11% during the same period, reinforcing its evolving role as a macro hedge tool amid geopolitical and fiscal uncertainty.
Analysts noted that Bitcoin's 30-day correlation with major indices remains high, with a correlation of about 0.62 with the S&P 500 and about 0.64 with the Nasdaq. However, its beta value has decreased, indicating that investors may no longer view it as a high-risk asset, but rather as a long-term allocation.
Chris Rhine, head of Galaxy's active strategies, stated, "Bitcoin as a non-sovereign asset means that investors do not need the full credit or tax base of a country to support the integrity of the asset."
Galaxy noted that recent investor behavior is similar to phenomena observed during the U.S.-China trade tensions of 2018-2019, when Bitcoin rose amid increasing global uncertainty.
Hank Huang, CEO of Kronos Research, told Cointelegraph that the surge in ETF inflows and continuous purchases of Bitcoin by strategies are helping to reshape Bitcoin as a digital version of gold, with reduced correlation to stocks.
Hank added, "As institutions deepen liquidity and volatility decreases, Bitcoin becomes a cornerstone of portfolios."
Meanwhile, Galaxy's over-the-counter trading department stated that market posture is "tactically cautious but structurally constructive," characterized by disciplined leverage and low hedging pressure.
With 95% of Bitcoin's total supply already mined, and increasing interest from institutions, ETFs, and even governments, Bitcoin is increasingly seen as a means of digital value storage.
Ian Kolman, co-portfolio manager at Galaxy, stated, "The supply-demand dynamics of Bitcoin are solidifying its position as a mature digital value storage medium."
On April 25, Jay Jacobs, head of thematic and active ETFs at BlackRock, stated that long-term trends show countries are reducing their reliance on dollar reserves in favor of assets like gold, and are increasingly choosing Bitcoin.
He pointed out that geopolitical fragmentation is driving demand for uncorrelated assets, and Bitcoin is increasingly viewed as a safe-haven asset alongside gold.
Related: Crypto Assets Go Mainstream: Top Companies Double Down on Bitcoin (BTC) and Solana (SOL), Coinbase Set to Enter S&P 500
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
