Analysis: Bitcoin's implied Volatility has dropped to the lowest level of 2023, and the market may welcome a decisive Fluctuation.

PANews September 24 news, according to XWIN Research analysis, Bitcoin's implied volatility has dropped to its lowest level since 2023, with this low point occurring before Bitcoin surged 325% from $29,000 to $124,000 earlier in 2023. The current situation of “calm before the storm” has raised concerns. CryptoQuant's on-chain data supports this: first, the reserves on exchanges have decreased, with total balances approaching multi-year lows, indicating a reduction in Bitcoin available for immediate sale, which historically has been a precursor to rising demand and tightening supply; second, the MVRV ratio is in a neutral range, with investors neither significantly Tied Up nor enjoying excessive profits, and the market is free from panic selling or profit-taking pressures, showing a strong sentiment of “wait-and-see”; third, the funding rate is balanced, with no excessive go long or shorting, in line with the low volatility, indicating the market is building energy. These three signals together paint a consistent picture: the supply of Bitcoin on exchanges is decreasing, investors are holding onto their coins, and the derivatives market is performing calmly. Although the implied volatility indicates that we are currently in one of the calmest phases in many years, historical experience shows that such periods rarely last long.