For comparison, average annualized 30-day volatility for the digital asset in 2022 was 61.4%. So far in 2023, the metric has averaged 43.8%.
The low fluctuation in price is consistent with slumping trading volume, with the major exchanges seeing only $1.88 billion worth of bitcoin moved on Sunday. The drop implies traders are less active in the market, signaling disinterest. "The 30-day realized volatility has fallen below the 22v level, as market activity remains muted," the Genesis trading desk said in a Monday note.With activity stagnant, the digital asset has traded mostly flat above the $29,000 mark for over a month now. The world's largest digital asset was changing hands for $29,488 at 2:15 p.m. ET, up 0.5% over the past 24 hours, according to
However, there are some signs that things could be turning a corner. Bitcoin investment products saw inflows last week totaling $29 million after U.S. inflation data came in slightly below expectations.