Volatility Levels Paint A Bullish Picture
Jul 27, 2023
• 6
Min Read
Paint Drying
Over the past few weeks, watching Bitcoin’s price action has been akin to watching paint dry. Earlier this week, bitcoin’s 30-day realized volatility reached levels not witnessed since July 2020.
I shared the chart below in Wednesday’s market update. I noted that historical data indicates that such drawdowns in volatility often precede significant price movements. Recognizing the importance of this insight, we decided to delve deeper into the numbers, seeking to quantify the magnitude of these moves and understand their typical direction.
Below is ...