Bitcoin is increasingly seen as a macro asset, with spot ETF inflows reflecting institutional demand

From Cointelegraph.

June 25, 2025 4:43:00 pm:

Avenir Group and Glassnode data show that a significant portion of spot Bitcoin ETF inflows are unhedged, indicating genuine institutional conviction over short-term strategies. BTC behaves like a traditional macro asset, correlating with equities, gold, and liquidity cycles while inversely tracking the dollar and high-yield credit spreads.

Research reveals that spot Bitcoin ETF inflows reflect long-term, unhedged demand from traditional markets, signaling a deeper transformation in the crypto market. Despite assumptions of perfect hedging, data shows a strong correlation between unhedged demand and ETF inflows, suggesting institutional investors are committing with conviction.

Bitcoin’s market profile is evolving as it is increasingly treated as an institutional asset, leading to improved liquidity and signs of market maturity. The cryptocurrency’s performance is now closely tied to broader financial conditions, showing positive correlations with risk-on assets like the S&P 500 and gold, while inversely tracking the US Dollar Index and high-yield spreads.

Bitcoin’s price is increasingly influenced by global liquidity measures, with every $1 trillion increase in global money supply estimated to translate to a $13,861 rise in Bitcoin’s price. Analysts caution against using global liquidity for short-term predictions, but note a long-run relationship between global money supply and Bitcoin’s price.

Read more at Cointelegraph: BTC Spot ETF Demand Proves Bitcoin Is A Macro Asset