Since early May, the price of Bitcoin has been at a standstill in a tight range between $8,500 and $10,000. For most of the past month, BTC has remained between $9,000 and $9,500 as realized volatility hit a three-year low.
According to Skew, the volatility of Bitcoin has dropped to levels unseen since 2017. Researchers at Skew wrote: “#bitcoin realized volatility on a three years low, Tesla (NASDAQ:TSLA) is eating Bitcoin’s lunch!”