The relatively stable movement of bitcoin prices despite the macroeconomic uncertainty is likely due to the elastic area of bitcoin ETF and Michael Saylor’s firm who continues to buy aggressively, according to a Bloomberg’s analyst.
“ETFs and Saylors are buying all ‘dumps’ from tourists, FTX refugees, GBTC discounts, legal unlocking, Govt security and Lord knows who else,” Bloomberg ETF analyst Eric Balchunas Says In a post of April 16 x.
Bitcoin ETF holders are holding across the market volatility
Balchunas pointed out that the Bitcoin area (Btc) ETFs have attracted $ 131.04 million over the past 30 days and has reached $ 2.4 billion since January 1. Balchunas has called “amazing,” that this notice helps to explain why “bitcoin is” quite stable. “
“Those with it are more stable,” Balchunas said. Balchunas said investors in Bitcoin ETF have “stronger hands than most people think.” He said it would “increase” the stability and lower volatility and relationship of Bitcoin in the long run.
The firm, approach, Saylor did Bitcoin’s latest purchase On April 14th, 3,459 BTC gained 3,459 BTC for $ 285.5 million at an average price of $ 82,618 per coin. According to In the Saylor Tracker, the approach holds 531,644 Bitcoin at the time of publication.
The Bitcoin Volatility Index, which measures the volatility of Bitcoin for the past 30 days, is at 1.80% at the time of publication, According to In the Bitbo Data. At the time of publication, Bitcoin traded at $ 84,610, According to In CoinMarketCap data.
Over the past 30 days, Bitcoin has exchanged between $ 75,000 and $ 88,000 amid macroeconomic uncertainty especially driven by presidential tariffs Donald Trump and ongoing questions about the future of US interest rates.
Despite this, Bitcoin remained above all the time high of $ 73,679, first surpassed in November.
Participants in the broader financial markets have also expressed surprise in the Bitcoin -child -child strength in recent times, especially in comparison with the S&P 500.
Stock Market Comment dividend owner He said to his 203,200 X followers on April 5, after “Trump’s Day of Liberation,” that he was “hated by Bitcoin in the past, but seeing it not tank while the stock market was very interesting to me.”
Related: When the price of gold hits new highs, history shows ‘bitcoin follows’ within 150 days – analyst
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