BlackRock: Bitcoin Correlation with US Equities Weakens, Market Sentiment Improving
- BlackRock's head of digital assets, Robert Mitchnick, stated that Bitcoin's market sentiment has shown improvement over the past month.
- The correlation between Bitcoin and U.S. stocks is weakening, which is seen as a positive development for Bitcoin as a portfolio diversifier.
- During the AI sector sell-off in July, Bitcoin outperformed significantly, indicating a decoupling from stocks.
- Despite being down nearly 30% year-to-date and about 50% from a year ago, Bitcoin ETFs saw substantial inflows, totaling $853.5 million last week.
- BlackRock's IBIT contributed over 80% of the inflows, amounting to $693.7 million.
PANews reported on August 11 that Robert Mitchnick, head of digital assets at BlackRock, observed a notable improvement in Bitcoin's market sentiment over the past month. He noted that the correlation between Bitcoin and U.S. equities is weakening, which is considered a healthy development for Bitcoin as a portfolio diversifier and tail-risk hedge.
Mitchnick highlighted that during the sharp sell-off in the AI sector in July, Bitcoin significantly outperformed, indicating a decoupling from traditional stocks. Although Bitcoin is down nearly 30% year-to-date and about 50% from a year ago, investor interest remains strong.
Last week, U.S. spot Bitcoin ETFs recorded inflows of $853.5 million, marking the best weekly performance since mid-April. Of this amount, BlackRock's IBIT contributed $693.7 million, accounting for over 80% of the inflows, while Fidelity's FBTC added $116.4 million. Bloomberg analyst Eric Balchunas noted that several funds experienced daily net inflows following the disclosure of a vulnerability in Coldcard, suggesting a possible causative relationship.
贝莱德：比特币与美国股票的相关性减弱，市场情绪改善
PANews于8月11日报道，贝莱德数字资产负责人罗伯特·米奇尼克观察到，比特币的市场情绪在过去一个月显著改善。他指出，比特币与美国股票的相关性正在减弱，这被视为比特币作为投资组合多样化工具和尾部风险对冲的健康发展。
米奇尼克强调，在七月份人工智能行业的剧烈抛售期间，比特币显著跑赢，显示出与传统股票的脱钩。尽管比特币年初至今下跌近30%，且较去年下跌约50%，但投资者的兴趣依然强烈。
上周，美国现货比特币ETF录得853.5百万美元的资金流入，创下自四月中旬以来的最佳周表现。其中，贝莱德的IBIT贡献了693.7百万美元，占总流入的超过80%，而富达的FBTC则增加了116.4百万美元。彭博社分析师埃里克·巴尔丘纳斯指出，在Coldcard漏洞披露后，多只基金经历了每日净流入，暗示可能存在因果关系。