THE EFFECT OF TECHNICAL ASSET, FINANCIAL ASSET AND MACRO-ECONOMIC ON RETURN BITCOIN

This study uses research variables such as Trading Volume, Market Capitalization, S&P 500 Index, World Oil Price, Gold Price on Bitcoin Returns. The data source in this is through internet media with the sites https://coinmarketcap.com/, https://finance.yahoo.com/, and other that support research. used are time series, target population for sample 1,096 (3 years x 365) daily report data. were collected from January 1, 2020, to December 31, 2022, release of bitcoin transaction reports. Time series analysis using Engel Granger's Error Correction Model method employed (ECM). tool Econometric Views (Eviews) which one computer econometric program. results where trading volume has a positive insignificant effect returns. impact market capitalisation returns both favorable significant. Returns positively significantly impacted by 500. negatively insignificantly price world oil. negligibly gold price.