$BTC This is the chart of the implied volatility on the Bitcoin options over the past few yearss.

A few short spikes of volatility aside, you can see how there's a clear trend down on this.

Bitcoin is maturing as its market cap is growing over time and the market is getting more institutionalized.

Gone are the days where you'd see multiple 10%+ candles in a row. If that happens a single day these days, that's already a big exception.