Summary
- Mike McGlone said Bitcoin ETF performance has lagged gold.
- Since the launch of BlackRock's IBIT, Bitcoin has gained about 50%%, while gold has risen about 135%%.
- McGlone added that Bitcoin ETFs may have signaled the start of a peak price cycle.
Forecast Trend Report by Period
Bitcoin exchange-traded funds have underperformed gold, underscoring a widening gap in returns across assets.
Bloomberg Intelligence Senior Macro Strategist Mike McGlone wrote on X on April 9 that Bitcoin ETF performance has lagged gold.
Since the launch of BlackRock's IBIT, Bitcoin has gained about 50%, roughly in line with the S&P 500. Gold, by contrast, has risen about 135% over the same period.
McGlone said investment demand for Bitcoin ETFs may have helped drive the price higher, with the product launch coinciding with an upswing in the market cycle.
He added that the ETF debut may have signaled the start of a peak price cycle. Markets are also watching the widening performance gap between assets and shifts in ETF fund flows.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
