Key insights
- The analysis suggests that Bitcoin's volatility, while still high, is becoming less extreme compared to other asset classes like equities, commodities, and real estate. This relative stabilization could reduce Bitcoin's risk premium, potentially attracting more institutional investment. However, the overall message is bearish, as it highlights increased volatility across all asset classes, suggesting a risk-off environment that could negatively impact US equities.
A few years ago Bitcoin felt like a very volatile asset compared to other asset classes. Lately less and less so.
- S&P500: -19% in Apr 2025
- Nasdaq100: -22% in Sep 2022
- Gold: -18% in Feb 2026
- Silver: -33% in Feb 2026
- Dubai real estate index: -35% in Mar 2026
- Crude oil: +65% in Mar 2026
- Bitcoin currently: -42% below all time high
It is increasingly difficult to find an asset class that does not suffer major volatility. Bitcoin is still the most volatile, but the margin is gradually diminishing.