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Bitcoin is showing signs of maturity as a global financial asset, with price volatility dropping to its lowest level in more than 500 days, according to new research.<\/p>\n
Volatility<\/a> refers to the degree of variation of a trading price over time, which indicates the uncertainty about the size of changes in an asset\u2019s value.<\/p>\n Bitcoin (BTC<\/a>) weekly volatility hit a 563-day low on April 30, said Vetle Lunde<\/a>, the head of research at K33 Research.<\/p>\n Bitcoin\u2019s decreasing volatility suggests BTC is maturing as a global financial asset, leading to a more stable price trajectory.<\/p>\n Bitcoin has become the seventh-largest asset globally by market capitalization, reaching $1.87 trillion. It now ranks above Silver, Meta and Saudi Aramco, according<\/a> to Companiesmarketcap.<\/p>\n Related: <\/strong><\/em>Bitcoin treasury firms driving $200T hyperbitcoinization \u2014 Adam Back<\/strong><\/em><\/a><\/p>\n Bitcoin exchange deposits have also seen a \u201cmeaningful decline,\u201d which suggests \u201creduced selling pressure and an uptick in conviction-driven custody behavior,\u201d analysts from Bitfinex exchange told Cointelegraph, adding:<\/p>\n \u201cThe divergence between price stability and shrinking exchange balances is critical, especially in a week following a $7.2 billion options expiry and heightened macro volatility.\u201d<\/p><\/blockquote>\n \u201cIn the past, similar patterns have preceded upside continuation, as reduced supply meets sustained ETF and institutional bid,\u201d they said.<\/p>\n The comments come a day after BlackRock\u2019s Bitcoin exchange-traded fund<\/a> (ETF) recorded $970 million worth of inflows, marking its second-largest day of investments on record, Cointelegraph reported on April 29.<\/p>\n Related: <\/strong><\/em>Coinbase to launch yield-bearing Bitcoin fund for institutions<\/strong><\/em><\/a><\/p>\n The recent market activity has reignited long-term bullish predictions. BitMEX co-founder Arthur Hayes said Bitcoin could hit $1 million by 2028, attributing the potential surge to aggressive monetary policy and rising institutional interest. <\/p>\n \u201cIt\u2019s time to go long everything,\u201d said Hayes in a keynote speech at Token2049 in Dubai.<\/p>\n \u201cDon\u2019t worry, Bitcoin is going to $1 million by 2028,\u201d he said, attributing the upcoming rally to more \u201cmoney printing\u201d from the US Treasury.<\/p>\n On April 21, Hayes predicted that the incoming US Treasury buybacks may present the next Bitcoin catalyst, which might mean that this is the \u201clast chance\u201d to buy Bitcoin below $100,000<\/a>.<\/p>\n Treasury buybacks refer to the US Treasury Department repurchasing its outstanding bonds from the open market to increase liquidity, manage federal debt or stabilize interest rates.<\/p>\n Industry leaders in the investment management space have also predicted that Bitcoin may surpass the $1 million price tag.<\/p>\n Institutional investors appear to be taking note. ARK Invest CEO Cathie Wood said<\/a> the odds of Bitcoin surpassing $1.5 million by 2030<\/a> have increased due to what she called the \u201cinstitutionalization\u201d of the asset.<\/p>\n \u201cMany institutional investors are now looking at Bitcoin and thinking they need to add it to their asset allocation because its return and risk profile looks so much different than all the other assets in their portfolios,\u201d Wood added.<\/p>\n A potential rally to $1.5 million would assume that Bitcoin realizes an average compound annual growth rate of 58% during the next five years.<\/p>\nBitcoin to hit $1 million by 2028: Arthur Hayes<\/h2>\n