Foresight News reports that, according to Bloomberg, as Wall Street's buy-and-hold investors flood in, Bitcoin's performance resembles that of a blue-chip stock. The annualized volatility has decreased from nearly 200% over a decade ago to an unimaginable 38%. According to Bytetree Asset Management, its current volatility is comparable to that of companies like Starbucks or Goldman Sachs. On several trading days this month, influenced by a corporate buying frenzy, the trading volume of Ethereum exchange-traded funds (ETFs) has matched or even exceeded that of Bitcoin.
As financial market traders prepare for Federal Reserve Chairman Jerome Powell's highly anticipated speech at the Jackson Hole seminar, both currencies showed almost no change on Friday. So far in August, investors have added $2.5 billion to Ethereum ETFs, while there has been a net outflow of $1.3 billion from Bitcoin products. Arthur Azizov of B2 Ventures anticipates that Ethereum will consolidate between $3,900 and $4,400. Bitwise's European head, Bradley Duke, stated, 'Ethereum is entering a risk-off sentiment. While the possibility of a short squeeze cannot be ruled out, many funds are currently preparing for a pullback.'
