Blockchain analysis company Kaiko has disclosed data showing that the 90-day volatility of Bitcoin and Ethereum has dropped to 35% and 37%, respectively, while the 90-day volatility of crude oil has reached 41%. Volatility refers to the rate at which the price of a given asset rises or falls over a given period of time.

Data shows that Bitcoin trading volume hit its lowest level since November 2020 last month, and the 30-day volatility approached a five-year low. It is worth noting that Bitcoin volatility is still lower than that of the S&P 500 index, technology stocks, and especially its closest competitor, gold.