Bloomberg ETF analyst: Bitcoin's 122% excess rise last year is a normal trend, and its return to the mean this year is expected.

Eric Balchunas, senior ETF analyst at Bloomberg, said that Bitcoin's 122% surge last year, far exceeding traditional risk assets, did not raise market concerns; the slower pace of gains this year is a normal correction to the previous excess. He noted that, based on a two-year average, Bitcoin still records a return of approximately 50%.