The actual volatility and implied volatility of Bitcoin are both close to the lowest levels in many years

Since the end of November last year, the trading price of Bitcoin has been between $91,000 and $109,000, with a very narrow fluctuation range. In other words, the volatility of Bitcoin has significantly decreased.

According to data from Glassnode, the two-week actual volatility (a measure of how much an asset has fluctuated in the past two weeks on an annualized basis) has dropped to 32%, one of its lowest levels in years.

In addition, the implied one-month volatility from options (the market's expectation for fluctuations over the next four weeks) also fell below 50% on an annualized level - again one of its lowest levels in years.