Bitfinex report: Bitcoin may serve more as a risk asset rather than a pure store of value

Odaily Planet Daily News Bitfinex released a report saying that the price of Bitcoin stagnated in the range of $91,000 to $102,000 and entered a consolidation phase that lasted more than 75 days. However, this long-term range shock reflects the growing maturity of Bitcoin as an asset, and its annualized realized volatility has fallen to its lowest level in history. Despite this, Bitcoin remains sensitive to macroeconomic developments, especially when Trump announced tariffs on Mexico and Canada, and the price fell sharply. Recent trends show that BTC is increasingly seen as a risk asset rather than a pure store of value. Its correlation with the S&P 500 index remains strong, while its correlation with gold has weakened. Bitfinex expects Bitcoin's range shocks to continue in the near term and may face downward pressure if macroeconomic conditions deteriorate. However, despite the continued rise in gold and changes in institutional sentiment towards Bitcoin, in the long run, Bitcoin's narrative as a store of value remains intact.