[New York Crypto Market/Update] Bitcoin 'Catching Its Breath': Lower Volatility vs. U.S. Stocks as Institutional Investment Grows

# Bitcoin Cools Down as Volatility Hits Unusual Lows Bitcoin (BTC) is currently experiencing a slowdown. As of 9 a.m. New York time on the 13th, Bitcoin was trading at $103,766, down 0.28%, according to data from Binance. Major altcoins such as Ethereum (ETH), XRP (XRP), Solana (SOL), and Cardano (ADA) exhibited mixed performance. Market analysts have noted an unprecedented situation where Bitcoin's volatility has decreased below that of traditional asset benchmarks like the S&P 500 and Nasdaq. This shift is attributed to increasing institutional demand for Bitcoin, reflecting a significant transformation in the digital asset landscape. Data from Galaxy Digital reveals that Bitcoin’s 10-day realized volatility recently marked 43.86, lower than the S&P 500 at 47.29 and Nasdaq 100 at 51.26. Galaxy Digital described this as “a rare phenomenon for a digital asset traditionally recognized for high volatility.” # Trump’s Tariff Policies and Bitcoin’s Role as a Macro Hedge Asset Galaxy Digital analysts pointed out that this data emerged amid U.S. President Donald Trump’s tariff policies, which have disrupted traditional markets. Over the last 10 days, the Nasdaq Composite showed little movement, while the Bloomberg Dollar Index dropped approximately 4%. Meanwhile, gold, a traditional safe-haven asset, rose by 5.75%, and Bitcoin outperformed them all with an 11% increase. This price movement underscored Bitcoin’s evolving role as a macro hedge against geopolitical and fiscal uncertainties. # Declining Correlation Between Bitcoin and Major Indices Galaxy Digital emphasized that Bitcoin continues to maintain a 30-day correlation of roughly 0.62 with the S&P 500 and 0.64 with the Nasdaq. However, Bitcoin’s declining beta indicates that investors increasingly perceive it as a long-term investment asset rather than a high-risk speculative asset. Chris Rhine, Head of Liquid Asset Strategy at Galaxy Digital, noted, “Bitcoin is a non-sovereign asset where investors can maintain the asset’s credibility without relying on the credit or tax base of any government.” Hank Huang, CEO of Kronos Research, highlighted the growing impact of ETF inflows and strategic Bitcoin purchases. He remarked, “Bitcoin is being redefined as a digital version of gold, with reducing ties to equities,” adding that institutional involvement deepens liquidity, curbs volatility, and solidifies Bitcoin’s role as a core portfolio asset. # Rising View of Bitcoin as a Macro Hedge Asset Galaxy Digital’s OTC trading desk described the current market tone as “cautious but structurally bullish,” characterized by disciplined leverage and minimal hedging stress. With 95% of Bitcoin’s total supply already mined, the growing interest from institutional investors, ETFs, and even some governments is cementing Bitcoin’s status as a digital store of value. Ian Kolman, Co-Portfolio Manager at Galaxy Digital, stated, “The supply and demand dynamics of Bitcoin are reinforcing its position as a matured digital store of value.” Similarly, Jay Jacobs, Head of Thematic and Active ETFs at BlackRock, observed on April 25 that nations are increasingly diversifying away from dollar-based reserves into assets like gold and Bitcoin. Jacobs pointed out that geopolitical fragmentation is driving demand for uncorrelated assets, positioning Bitcoin alongside gold as a safe-haven asset. As institutional adoption rises and Bitcoin establishes itself as a hedge against macroeconomic and geopolitical risks, its evolution from a high-risk speculative tool to a long-term investment vehicle appears underway.