In the last couple of weeks, the 30-day volatility of Bitcoin has exceeded the upper boundary of its annual range (+1σ). The current level is around 0.024 (47% annualized), which is almost two standard deviations above the long-term average. The volatility#expansionPhase, which followed a prolonged stagnation since May 2025, is now in full swing. Be cautious with high leverage and aggressive margin use.