Bitcoin’s volatility keeps compressing: ~200% in 2012 → ~30–40% today. more like a leveraged Nasdaq Annualized BTC Volatility (30D) https://theblock.co/data/crypto-markets/prices/annualized-btc-volatility-30d

Imagine this: ~164k BTC/year of new supply. ~1M BTC of institutional demand. You’re not bullish enough.