This figure indicates that price fluctuations over the past 10 days have been less than 1% in either direction on any given day.
Generally, lower volatility is considered an attractive quality for an asset. With Bitcoin often being hailed as ‘digital gold,’ and a safe haven asset, its erratic volatility tends to speak otherwise.
However, the current statistic is not entirely encouraging. The last time Bitcoin saw this level of stability was in November of 2018. Shortly after that time, Bitcoin lost nearly 50% of its value in the span of just over a month.
The store-of-value asset rhetoric has been relatively toned down recently with industry insiders like Tyler Winklevoss repudiating the claim. Additionally, Bitcoin’s lock-step with equities markets has made the claims of asset structure less tenable.
Nevertheless, volatility often falls short as a predictor of future price movements. With other markets in a state of flux, Bitcoin’s low volatility remains an anomaly.