According to a report by Bitfinex, as of February 10th, Bitcoin’s price has been oscillating between $91,000 and $102,000 for over 75 days, indicating a consolidation phase. This pattern suggests a growing maturity in Bitcoin as an asset, evidenced by its declining annualized realized volatility. However, Bitcoin remains highly reactive to macroeconomic shifts, exemplified by significant downturns following geopolitical tensions, such as tariffs imposed by President Trump on Mexico and Canada. Recent analysis illustrates a transformation in perception, with Bitcoin being viewed increasingly as a risk asset rather than solely a store of value, as its correlation with the S&P 500 strengthens while its connection to gold diminishes. Although Bitcoin has appreciated by 3.5% this year, gold has outperformed, climbing 9% to a record high, contributing an additional $1.5 trillion to its market capitalization, in contrast to Bitcoin’s $66.5 billion. Institutional lags attributable to regulatory apprehensions are gradually giving way as over $1.96 trillion worth of Bitcoin is now held by diverse entities, including ETFs and sovereign nations, particularly appealing against the backdrop of increasing fiat currency devaluation risks spurred by central bank policies.
Source: https://en.coinotag.com/breakingnews/bitcoins-75-day-consolidation-maturing-as-an-asset-amid-economic-uncertainty/