Bitcoin's price has been trading steadily around $76,500 to $77,000 in recent days, marking a significant drop from its October record high of $126,000. According to the Bitcoin Volmex Implied Volatility Index, the cryptocurrency's volatility has fallen to a nine-month low of 36.11.
This development comes as investors are turning their attention towards traditional equity indexes and commodities due to inflation pressure and the ongoing US-Iran conflict. As a result, crypto markets have seen decreased activity, with Bitcoin spot trading volume plummeting by nearly 40% from its October peak.