The 30-day Bitcoin volatility on an annualized basis fell to 15.5% — the lowest on record. The data are provided by The Block.
By comparison, in 2022 the metric averaged 61.4%, and since the start of 2023 — 43.8%.
Trading volumes have also fallen: on 13 August, Bitcoin turnover totalled just $1.88 billion.
As noted, inflows into Bitcoin funds from August 5 to 11 amounted to $27 million. A week earlier, there was a record outflow since March of $111 million.
Earlier, Bloomberg analyst James Seyffart raised the odds of approval for a Bitcoin ETF based on the first cryptocurrency to 65%.