10-day realized volatility hits its lowest since just before Bitcoin price fell to $3,100 in late 2018, sparking fresh bearish fears.
Bitcoin (BTC) could be heading for a repeat of its late 2018 sell-off, data warns as realized volatility reaches almost three-year highs.
Uploading fresh charts on July 6, on-chain analyst Skew drew concerning comparisons to Bitcoin in its 2018 bear market.
Bitcoin 10-day realized volatility dips to 20%
Analyzing realized volatility, Skew noted that the last time the metric hit 20%, a mass capitulation event followed, during which BTC/USD hit $3,100.
“Last time we reached that level, we had the great sell-off of November 2018 shortly after,” analysts warned.
Realized volatility refers to historical volatility measurements, with 20% on the 10-day reading marking a 33-month low.
Bitcoin realized volatility 3-year chart.