Why is Bitcoin’s volatility so low?
New long-form by @SeanNotShorn and Greg Magadini (@Amberdataio) dives deep.
They argue the divergence is structural, driven by institutional flows, ETH’s “digital oil” status, and MicroStrategy-style convert plays.
Link in comments 👇

This piece by Derive’s Head of Research @seanNotShorn is part of our bi-weekly longform series “High Signal” on Derive Insights.
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