
On Friday, Glassnode, that digital Cassandra of blockchain analytics, delivered its weekly verdict: traders are betting on stability, though whether it’s faith or fear remains unclear. The Fed’s “hawkish” pivot-a phrase as meaningful as a bureaucrat’s smile-sent Bitcoin into a brief paroxysm of hope, only to collapse under the weight of its own expectations. The BTC Implied Volatility Index, that barometer of trader anxiety, has been inexorably descending, as if traders have collectively decided to trade drama for drudgery. Even the 1M Volatility Risk Premium turned negative, a sign that panic is now overpriced. Glassnode, ever the optimist, insists this will “mean-revert”-a term that sounds less like a prophecy and more like a bureaucratic excuse. 🤡