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Where has the crypto volatility and liquidity gone?
Throughout the pandemic, crypto’s vicious volatility was a mainstay in mainstream media headlines. Today, that is far from the case – not only has volatility dropped severely, but overall volumes, interest and capital in the space has been decimated. Let’s start with volatility. The below chart plots the 90-day annualised volatility of both Bitcoin and Ethereum since the summer of 2021, when crypto trading was at all-time highs. Since then, the trajectory has been steeply downward. Most stark has been the fall since the start of this year. Zooming in on the 2023 section of the previous chart now, we can see ... (full story)