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Bitcoin’s Volatility Hits 70%, Echoes 2023 Lows: Will History Repeat Itself?
The crypto market is abuzz with the recent revelation that Bitcoin’s quarterly Realized Volatility has plummeted to a staggering 70%. This unprecedented drop in volatility levels eerily echoes the 62% seen during September 2023, when the price of Bitcoin bottomed out at $26,000.
While many might be tempted to draw parallels between these two events, it is essential to dissect this phenomenon further. As we delve deeper into the metrics, it becomes clear that there are distinct differences between this situation and the one witnessed in 2023. However, before diving into those distinctions, let’s analyze what these readings tell us.
The decline in volatility has led many to speculate about the possibility of a major price shift in Bitcoin’s future. A significant correlation exists between this metric and market activity levels. This downward trend is typically indicative of consolidation phases, which can sometimes be followed by a major directional move.
Source: ambcrypto.com
