Bitcoin volatility falls to 9-month low as price stalls between $76,500 and $77,000

Bitcoin traded near $76,500 after failing to break above $80,000, while its volatility gauge fell to a nine-month low. The Bitcoin Volmex Implied Volatility Index dropped to 36.11 on Monday in Singapore. That was its lowest level since September and close to its weakest reading since 2023.

The index uses live crypto options prices to track expected 30-day Bitcoin volatility. Bitcoin traded around $77,000 today and remained almost 40% below its October record above $126,000.

US spot-Bitcoin ETFs recorded about $1 billion in net outflows so far in May, ending two months of inflows. Spot ETF MVRV rose 0.69%. ETF netflows improved 28.9%. ETF trade volume fell 22.9%.

Bitcoin traders cut spot volume as Binance activity falls 81% from October 2025

Bitcoin spot trading volume has dropped to levels last seen in July 2023. Binance recorded $36.4 billion in trading volume, compared with $198.6 billion in October 2025. Current Binance volume is almost five times lower than that October figure.

Gateio volume fell 79.6%. Bybit volume fell 66%.

Inflation pressure and the longer-than-expected US-Iran conflict pushed investors toward commodities and traditional equity indexes instead of crypto markets.

Meanwhile, Bitcoin’s daily active addresses recorded a small fall, as entity-adjusted transfer volume also declined slightly.

According to Glassnode, capital share and the short-term holder to long-term holder supply ratio showed a steadier liquidity profile and lower speculative activity.

“Bitcoin pulled back from $79K to $74K before rebounding toward $77K, with momentum and activity cooling. Despite softer sentiment, easing sell pressure hints at early signs of stabilization,” said Glassnode.

The net unrealized profit-to-loss ratio declined sharply. The realized profit-to-loss ratio showed more loss realization than profit-taking. Bitcoin now has lower volatility, weaker spot volume, ETF outflows, lower ETF trade volume, fewer daily active addresses, lower adjusted transfer volume, steadier liquidity metrics, and more realized losses than profits.

Looking forward, analyst Crypto Rover believes the US midterms election will turn the market bullish.

“Everyone’s narrative right now is that the stock market is outperforming Bitcoin and that this is somehow strange. It’s not. This happens every single cycle,” said Crypto Rover. “Once $BTC starts outperforming the stock market again (breaking back above the bull market support band), that might be your signal the bear market is over.”

Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free.