The king of the swingers has been unusually stalling at approximately $20,000 and hasn’t gone much higher than that since June. According to Martin Leinweber, digital asset product strategist at MarketVector, “Bitcoin is not dead, it’s just uninteresting right now, therefore traders are seeking alternatives.” According to research firm Coinglass, Bitcoin’s average 30-day volatility, which measures how its price changes over a specific time period, has dropped to 2.7% from above 4% in early July. In contrast to the previous five years, when even periods of lower volatility were followed by jumps as high as 7%, that number has maintained firmly below 5% in 2022, even through the most stressful months of the “crypto winter” of low prices. Similar to this, an indicator from CryptoCompare, which uses bitcoin futures contracts to determine how much prices are forecast to move, is currently just over 77, down from close to 90 at the start of the year. In the past, particularly during times of economic depression, Bitcoin has experienced periods of lower volatility. But this dip might be unique. According to Stephane Ouellette, CEO of crypto derivatives firm FRNT Financial, “this has been a relatively extended period of decreased volatility; it’s already beyond anything we’ve seen in even 2019 where these levels lasted roughly a quarter to a quarter-and-a-half.