$BTC volatility continues to compress during what still looks like a larger B-wave bounce.
The current volatility regime sits at -1.29, meaning realized volatility is now well below its 4-year average.
That’s interesting because this type of environment is often seen during tiring B-wave rallies where price can still grind a bit higher, but momentum and volatility continue to fade underneath the surface.
The structure becomes increasingly compressed rather than impulsive.
In Elliott Wave terms, that can fit the idea of a larger B-wave environment before a more aggressive C-wave move lower potentially begins to expand with rising volatility again.Compression phases usually do not last forever. Expansion eventually follows.