Matrixport released today's chart report that Bitcoin's 30-day realized volatility has averaged 58% over the past five years. Typically, volatility exceeds this average during bull and bear markets, such as the bull market in 2020/2021 and the bear market in 2022. However, the recent volatility has been unusually low, which is very noteworthy because Bitcoin's volatility is often amplified when the market goes up or down. The introduction of spot bitcoin ETFs to Wall Street investors appears to have played an important role in dampening bitcoin volatility. Lower volatility allows institutional investors to take on more risk, which, combined with bitcoin's strong performance in 2023 and 2024, is likely to continue to attract more Wall Street money. This trend is expected to further stabilize bitcoin's price, and thus its volatility, as institutional buying absorbs the market's decline.