Bitcoin has witnessed a noticeable decline in the level of volatility recently, as it has not recorded any sharp price movements in both directions since the completion of the fourth fork in the Bitcoin mining reward in April.
This trend towards lower volatility, according to experts, reflects the maturity of the market.
Indicators of Bitcoin maturity:
Over the past week, Bitcoin recorded a slight decline of just over 3%, as selling outweighed buying on most trading platforms.
According to a recent report from Kaiko, the cumulative net trading volume of major Bitcoin trading pairs reached $518 million between June 10 and 14, with Binance and Bybit recording the highest levels of selling pressure.
What was stated in the “Kaiko” report is that Bitcoin, despite being exposed to price fluctuations as a result of macroeconomic news during the past week, has shown a new level of maturity in 2024, which is evident from the decrease in its volatility.
Since the beginning of 2024, Bitcoin's 60-day historical volatility has remained below 50%, which is in sharp contrast to the extreme volatility seen in 2023 when volatility exceeded 100%.
In 2024, Bitcoin reached the highest level of stability in its modern history, with peak volatility at just 40%, a significant decline compared to peak volatility of over 106% in 2021 when Bitcoin hit its price highs.
Even the launch of spot bitcoin ETFs in the US has not had a significant long-term impact on the currency's volatility, according to a Kaiko report.
The report noted that although it is too early to determine whether this new situation will continue, changes in the structure of the Bitcoin market over the past year may explain why price movement has remained relatively calm.
At the time of publishing this article, Bitcoin is trading at $65,400, down nearly 4% in the last 7 days, while the total market capitalization of the crypto market has fallen below $2.5 trillion.
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