Bybit Hack Fails to Disrupt Bitcoin’s Low Volatility Expectations

The implied volatility of the leading cryptocurrency remains near record lows, with the Bybit hack having little impact on market sentiment, according to observations shared by Glassnode.

#Bitcoin’s 1-week realized volatility has collapsed to 23.42%, nearing historical lows. In the past four years, it has dipped lower only a few times — e.g., Oct 2024 (22.88%) & Nov 2023 (21.35%). Similar compressions in the past led to major market moves: https://t.co/B67xEqy8Rm pic.twitter.com/XRaGCNXR6d

— glassnode (@glassnode) February 21, 2025

“Bitcoin’s weekly realized volatility has plummeted to 23.42%, close to historical lows. Over the past four years, it has fallen lower only […] in October 2024 (22.88%) and November 2023 (21.35%). In the past, this has led to significant market movements,” the statement reads.

Experts noted that the metric remains higher over a longer horizon — 53.1% (three months), 56.25% (six months).

At the time of writing, Bitcoin is valued at $95,800. Weekend trading occurred within a narrow range of $95,000-$97,000.

Price fluctuations following the Bybit incident diminished after Strategy founder Michael Saylor published a chart of the company’s coin purchases.

I don’t think this reflects what I got done last week. pic.twitter.com/57Qe7QfwKm

— Michael Saylor⚡️ (@saylor) February 23, 2025

“I don’t think this reflects what I got done last week,” he emphasized.

The entrepreneur hinted at using the $2 billion raised from bond issuance to acquire digital gold.

CryptoQuant has suggested that Bitcoin may enter a bearish phase due to a weakening investor risk appetite.

Earlier, company specialists recorded a significant decline in transactional activity on the network of the first cryptocurrency and pointed to a “cleansing” of the market from excessive leverage.