Bitcoin volatility hovering within 6% of record low levels

Bitcoin’s (BTC) price had such little movement over the 15 days leading up to the sharp decline on June 7 that it approached historic lows seen across all 15-day periods in Bitcoin’s history.

The period between May 24 and June 7 was in the “bottom 6% of occurrences” for volatility, according to Swan Bitcoin chief investment officer Rapha Zagury.

“The horizontal blue line is the latest 15-day rolling volatility number of 23%. It certainly looks close to the lower level,” Zagury explained in a June 7 post on X, pointing to the extended period of time that Bitcoin was “stuck in a range.”

Source: Rapha Zagury

After the 15-day period, during which it traded within a 7% range, fluctuating between $66,936 and $71,656, Bitcoin’s price sharply declined by 3.33% to $69,264, according to CoinMarketCap data.

The plummet followed the United States Employment Situation Summary Report publishing stronger job growth than expected, an indication that inflation rates may not be cut by the U.S. Federal Reserve on June 11 — a closely monitored metric for Bitcoin price predictions by analysts in recent times.

At the time of publication, Bitcoin is trading at $69,246.

Related: BTC price settles at $69K after dip wipes $1.3B Bitcoin open interest

However, Zagury highlighted the outcomes of Bitcoin’s price during previous periods of similarly low volatility or lower. Over the next 30 days, the average return stood at 20.95%, with the minimum return declining a further 32.06%, while the maximum return at 218.40%.

Over the course of 365 days following, the outcomes are even more significant. Although the minimum return for this period stands at 55.59%, the average return is 820.82%.

Zagu reiterated though it isn’t any indication for the future, he just believes there is “value in learning from the past.”

Magazine: Longevity expert: AI will help us become ‘biologically immortal’ from 2030

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Also Read More: World News | Entertainment News | Celeb News

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like responds to GPU metadata attack, a decentralized physical infrastructure network (DePIN), recently experienced a cybersecurity breach.…

OpenAI launches official ChatGPT support for universities and nonprofits

Artificial intelligence (AI) firm OpenAI has launched a pair of initiatives to…

U.S. DOJ busts botnet boss for orchestrating $130M cyberscam

The U.S. Department of Justice (DOJ) has arrested Yune Wang, 35, a…

Binance co-founder denies responsibility for $1M trading loss in hacked account

Yi He, co-founder of crypto exchange Binance, has dismissed claims that a…