Bitcoin’s (BTC) volatility has been shrinking in the past few days. The standard deviation of daily returns for the last 30 and 60 days as calculated by the Bitcoin Volatility Index is at 2.63%, the least volatile it has been since November 2020.
Generally, tight ranges are followed by strong price expansions. In 2020, the low volatility period in November was followed by a sharp rally in mid-December, which resulted in a supercycle that carried the price all the way to $64,854 on April 14, 2021.
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