According to new data from the digital asset management company Galaxy, Bitcoin (BTC) is the best-performing asset of the year compared to equities, fixed-income securities, indices, and commodities on a risk-adjusted basis.

The newly released data corresponds to gold increasing and equities decreasing. It explains how the volatility of Bitcoin is on a multi-year downward trend, and that futures open interest and perpetual swap funding rates suggest the rally is not based purely on speculation.

On-chain data shows ongoing accumulation, longer holding times, and growing ownership dispersion. The upcoming 4th halving is expected to precede a longer-term bullish advance.

(By Dorian Batycka)