Glassnode: Bitcoin Volatility at Historic Lows, Long-Term Holders More Indicative Than Market Cap

On September 8, Glassnode reported that Bitcoin volatility is currently at historic lows, but the strongest driver of low volatility is not market cap, but rather who holds these coins. Long-term holder supply has greater explanatory power over realized volatility than market cap, open interest, or trading volume, indicating that long-term holder behavior plays a decisive role in market stability.