Henrique Valente: “Bitcoin continues to consolidate its role as a reserve asset”

Bitcoin reached a new high this Friday, trading above $117,000. ActivTrades analyst Henrique Valente believes the cryptocurrency "continues to consolidate its role" as a reserve asset, with "increasingly evident institutional prevalence."

Henrique Valente notes that since the beginning of 2025, spot Bitcoin Exchange Traded Funds (ETFs) "have already captured $13.5 billion in net inflows—equivalent to almost 70% of the flows recorded by gold ETFs, which totaled $19.2 billion in the same period." For the ActivTrades analyst, this approach to the traditional safe-haven asset "reveals greater acceptance" of Bitcoin by the traditional financial system.

And this has been reflected in cryptocurrency volatility. "The new investor mix is ​​also reflected in a sharp reduction in implied volatility. Deribit's volatility index (DVOL), which started the year at 70%, is now at 42.5%, signaling a lower perception of risk and greater market maturity," says Henrique Valente.

"The combination of sustained demand through regulated instruments, growing adoption by companies and even some nation states, and lower volatility reinforces Bitcoin's narrative as an alternative asset increasingly integrated into the financial mainstream," reinforces the ActivTrades analyst.