Bitcoin (BTC) showed niggling signs of comeback on Jan. 27, but one major fund believes that it will do good from new trends among investors. At the same time, all optics have been on GameStop (GME) price volatility this calendar week.

By comparison, GME has dwarfed BTC in gains so far this year, up over 3,000% percent, with some analysts calling the jaw-dropping rally "dangerous."

BTC vs. GME stock (orange) performance. Source: Tradingview

GameStop: As well many gains to handle?

Data from Cointelegraph Markets and TradingView shows that BTC/USD suffered from selling pressure over the 24 hours leading up to Wednesday, trading at effectually $30,900 at the time of writing.

A classic consolidatory motion for Bitcoin, the ranging price beliefs followed a brief spurt of volatility in which the largest cryptocurrency broke $30,000 support, merely to rise to then meet rejection at $35,000.

While mainstream media narratives on its performance were as mixed equally e'er, attention had already focused on another asset that commentators decided was more apropos. GameStop, the penny stock that delivered near 700% gains in two weeks, should be investigated by United states regulators.

An Elon Musk tweet also propelled GME stock higher in afterhours trading.

Well-known investor Michael Burry, who himself took a position in GameStop, warned in a now-deleted tweet quoted by Bloomberg on Tuesday:

"If I put $GME on your radar, and you did well, I'k genuinely happy for you lot. Nonetheless, what is going on now – at that place should be legal and regulatory repercussions. This is unnatural, insane, and dangerous."

Scaramucci: GameStop means Bitcoin will "work"

For Bitcoin proponents, however, it was the style, not substance, behind the investment that was worth noting.

Anthony Scaramucci, founder of SkyBridge Uppercase — which has a $385 1000000 BTC allocation — highlighted retail investor participation in the GameStop boom likewise every bit its social media genesis every bit proof of the changing face of the market.

"The activity in GameStop is more proof of concept that Bitcoin is going to work," he told Bloomberg.

"How are you going to beat that decentralized crowd? That to me is more than affirmation about decentralized finance."

Trading volumes for GameStop beat Bitcoin by a considerable margin over the by day, reaching $xx billion compared with $thirteen billion for BTC.

"It'southward the age of the micro investor and yous better take it seriously, otherwise you'll get taken to the cleaners," Scaramucci added.

Bitcoin and Ether year-to-date performance. Source: Digital Assets Information

As Cointelegraph reported, a lull in the Bitcoin balderdash market soon took the wind out of trading activity, which instead began to focus on altcoins on the back of Ether (ETH) setting new all-time highs this calendar week.