The race to launch a spot bitcoin ETF has not just lifted the asset’s price, but also its volatility.
Bitcoin volatility, which up until recently was stuck in a sleepy regime, has picked up again, hitting its highest level since mid-May, according to data tracked by The Block.
Annualized bitcoin volatility has been on a tear, hitting 51.8% on June 21. That’s up from a recent bottom of about 31% on June 6, according to The Block’s data dashboard.
Bitcoin was mostly flat in trading on Thursday, rising 0.4% to $30,024, according to CoinGecko.
Bitcoin rally spikes volatility
Bitcoin’s low volatility has been well documented, with the world’s largest crypto seeing more stable prices than shares in tech giants like Amazon and Meta earlier this month.
But the recent rally …