Bitcoin is now less volatile than Nivea as the investor base expands, says Bitwise
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Bitcoin's price swings are becoming more restrained, with the cryptocurrency now showing less volatility than Nvidia shares in 2025, a shift Bitwise says reflects maturity and a more diverse investor base.
Key Takeaways:
Bitcoin's volatility has fallen below Nvidia's as BitWiz's institutional products expand its investor base.
The growth of spot ETFs and access to traditional markets is shaping how Bitcoin trades and reducing sharp price swings.
Bitwise views the stable price action as a structural change and expects further institutional entry in 2026.
In a report released Wednesday, Bitwise Bitcoin is likely to remain volatile until 2026 with NVDA (NVDA), marking the longest decline in Bitcoin's price volatility over the past decade.
Bitwise says institutional adoption is slowing bitcoin.
The asset manager argues that Bitcoin's growing presence in traditional financial markets is changing trading.
“Bitcoin's volatility has been gradually declining over the past decade,” Bitwise said, adding that the trend reflects a broader “disorientation” of the asset as institutional investors gain exposure through regulated products such as spot exchange funds.
According to Bitwise, the rise of ETFs and other traditional vehicles has broadened Bitcoin's investor base beyond retail traders and crypto-native funds.
That diversification has helped slow the price movements that once dominated the asset, the firm said.
The data highlights the significant difference between Bitcoin and Nvidia this year. Bitcoin moved 68% between its 2025 low of $75,000 in April and its all-time high of $126,000 in early October.
Nvidia, by comparison, recorded a much wider swing of 120%, rising from a low near $94 in early April to $207 a year.
Despite Nvidia's high volatility, the chipmaker's shares delivered stronger returns.
NVD is up roughly 27% year-to-date, while Bitcoin is down roughly 8% since the start of the year as crypto markets are increasingly outpacing stocks.
Bitwise sees the stable price action as a structural change rather than a temporary phase. According to the firm, traditional market forces that once drove extreme crypto cycles, such as leveraged speculation and reactions to halving events, are losing influence.
Looking ahead, Bitwise is optimistic about Bitcoin's broader outlook. The firm expects Bitcoin to set new all-time highs and break out of the historic four-year cycle that has shaped bull and bear markets in the past.
It predicts deeper institutional involvement by 2026, naming banks such as Citigroup, Morgan Stanley, Wells Fargo and Merrill Lynch.
Bitcoin's long-term sell-off may be nearing its end: K33
Bitcoin has seen sustained sell-side pressure from long-term holders since 2024, but that trend may be nearing exhaustion, according to a new report from research and brokerage firm K33.
The firm estimates that about 1.6 million BTC, roughly $138 billion, has re-entered circulation over the past two years as early investors took profits.
Vettel Lunde, head of research at K33, said the scale of these moves indicated deliberate selling rather than technical issues such as portfolio consolidation or ETF-related transfers.
The report predicts 2024 and 2025 will be the largest-ever on record to reactivate long-term supply, not by speculation, but directly by selling into deep institutional liquidity.
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