While past patterns are never a guarantee of future performance, volatility metrics are widely known to be mean-reverting. This cyclical nature suggests that periods of below-average volatility are often followed by higher turbulence, while above-average volatility paves the way for market stability.

Currently, the index is trading below both its 30-day and 200-day simple moving averages. In essence, volatility is relatively “cheap” and sitting at a historically reliable support zone, suggesting the measure could be set to rise, which means another round of turbulence.

For now, bitcoin continues to trade just above $64,000, maintaining the range-bound price action that has persisted since last Wednesday. While some analysts have noted two…