Bitcoin’s 30-day annualized volatility has declined significantly, reflecting a structural shift in liquidity dynamics following the maturity of spot exchange-traded funds. Institutional order flow now accounts for a majority of total spot volume, dampening the speculative swings historically driven by retail derivative leverage.
Market Depth Analysis
Order book depth within 1% of the mid-price has expanded substantially across regulated exchanges. Financial analysts note that automated institutional rebalancing strategies are establishing a firmer price floor, reducing the impact of macroeconomic surprise announcements on spot valuations.