During the day, the bitcoin rate fell by another 1.8% to $26,850.
The capitalization of cryptocurrency on the night of Tuesday, May 23, decreased to $520.418 billion.
A report from Glassnode says that BTC’s weekly volatility has dropped to 3.4%.
The last time the index of price changes was at this level was in early January.
Crypto turbulence eased in late 2022 after FTX filed for bankruptcy.
Investors began withdrawing BTC from trading floors, preferring over-the-counter storage of coins.
Investor activity also began to decline, which led to a narrowing of the range of Bitcoin price fluctuations, experts emphasized.
They predict trading in the range of $26,500 to $27,400 in the coming weeks if the volatility index stays at current levels. Glassnode also notes that the amount of transactions with bitcoin has decreased to $2.73 billion per day.
In the first half of 2021, the volume of transactions reached $13 billion per day, when the bullish trend dominated the cryptosphere. A large number of traders entered the market participating in transactions.
Now the amount of transactions is 79% lower, as the number of users moving funds on the blockchain has dropped dramatically, the authors of the report emphasized.
