Bitcoin Volatility Hits Three-year Low
Bitcoin experienced a surge of economic activity on Wednesday, pushing prices up from $25,000 to over $26,000.
According to a report from Glassnode, BTC volatility has been the lowest it has been since October 2020.
The upper limit has been around $26,254 and the daily transaction amount on the blockchain is estimated to be around $2.44 billion.
Analysts note that the market was similar to this around three years ago, and that it preceded a period of significant market fluctuations.
Trading volume on the futures market has also dwindled to about $12 billion per day.
This is the lowest it has been since 2023. Crypto traders have corrected the market several times after BTC prices rose above $26,000, sending it back to $25,000.
Furthermore, Santiment noted that investors sent over 20,000 BTC to exchanges since the start of September.
