Bitcoin Volatility Surges Ahead of Record-Breaking Monthly Close

Bitcoin's price slipped below $70,000 with increased volatility ahead of the upcoming block reward halving on or around April 20, causing its 30-day annualized realized volatility to hit its highest level since August 2022. While historically each halving has been followed by a surge in Bitcoin's price, some analysts caution that it may be priced in, but others point to a potential supply crunch as bullish indicator as the halving approaches.