Bitcoin's 90-day realized volatility sits at about 38%, almost level with Nvidia at about 37%. The euro-dollar pair, at 4.6%, remains far steadier. CoinDesk says bitcoin has improved but still has a long way to go before it matches stable assets.
Bitcoin now swings by almost the same amount as Nvidia, the largest stock by market value. Bitcoin's 90-day realized volatility stood at about 38% as of Thursday, based on CoinDesk's calculations, against about 37% for Nvidia.
Realized volatility is a widely tracked metric that measures how much an asset's price has moved over a period, such as 30 or 90 days. The gauge is the standard deviation of daily returns, usually annualized. The higher the number, the bigger the swings and the stronger the perception that the asset is risky.
Gold, stocks and the euro-dollar are steadier
Gold, bitcoin's traditional rival, is at about 23.5%. The S&P 500 sits at about 11%, so bitcoin is a little over three times as jumpy as stocks.
EUR/USD is the steadiest of all, with a 90-day realized volatility of 4.6%. Bitcoin is roughly eight times as volatile. Most fiat currency pairs have realized volatility below 10%.
Bitcoin's swings have narrowed since 2020
The broader improvement is clear. The cryptocurrency's 90-day volatility has averaged about 58% since January 2020 and peaked at 134% in June 2020. Its calmest reading of 27.5% came in September 2025, when prices rose above $100,000.
Volmex's BVIV, a 30-day implied volatility index for bitcoin, remains below its 200-day average, which points to expectations for relative stability in the crypto market. The VIX, by contrast, has topped its 200-day moving average, a sign traders are pricing increased uncertainty in the S&P 500.
Source: CoinDesk
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