Bitcoin’s Volatility is Approaching Record Levels

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Bitcoin’s value remained mostly stagnant in the two weeks leading up to its sharp decline on June 7, reaching record lows in terms of volatility compared to any other 15-day period in its history.

According to Rapha Zagury, chief investment officer at Swan Bitcoin, the period between May 24 and June 7 was in the bottom 6% of occurrences in terms of volatility.

Zagury highlighted this by referencing the horizontal blue line representing the 15-day rolling volatility number of 23%, which was close to the lower level.

This period saw Bitcoin trading in a tight range, with fluctuations of only 7%, between $66,936 and $71,656. However, after this period, Bitcoin’s price dropped sharply by 3.33%, falling to $69,264 according to CoinMarketCap data.

This decline was triggered by the publication of a stronger-than-expected Employment Situation Summary Report in the United States, suggesting that the Federal Reserve may not cut interest rates on June 11.