Bitcoin’s price undulations became the calmest in three months on Tuesday, as volatility revisited levels last seen ahead of the “Black Thursday” crash on March 12.
The leading cryptocurrency’s 30-day volatility has now fallen to 40%, the lowest level since March 6, according to blockchain analytics firm IntoTheBlock. Meanwhile, 60-day volatility declined to 52.18%, its lowest since March 11.
The decline in volatility may be associated with the lack of clear directional bias in the market.
Bitcoin rallied by over 150% in the two months leading up to the May 11 mining reward halving. Since then, however, the buyers have repeatedly failed to establish a foothold above $10,000. At the same time, downside has been restricted to around $8,600.