Data shows that Bitcoin volatility is currently at historically low levels, something that has led to violent price moves in the past.
Bitcoin 7-Day Range Has Compressed To Just 3.4% Recently
According to data from the on-chain analytics firm Glassnsode, the current 7-day price range is comparable to levels seen back in January of this year. The “7-day price range” of Bitcoin here refers to the percentage difference between the highest and the lowest points that the asset’s value has observed during the last seven days.
This metric can provide hints about the recent volatility that the cryptocurrency has experienced. When the indicator has a low value, it means the price action during the last week has been quite stale. Naturally, this suggests that the volatility of the asset is low right now.
On the other hand, high values of the 7-day price range imply the coin has seen a high degree of fluctuation within the past seven days, and hence, the volatility has been high.
Now, here
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