New YorkBitcoin has had 10 extreme price days this year.
The 2018 bear market, which cost bitcoin 73%, had only 8 such days, the analysis found.
An extreme day is a move of at least 3 times the previous 30 days’ realized daily volatility.
Deeper liquidity and institutional participation have helped the market absorb such shocks.
Macroeconomic shocks hitting crowded derivatives trades can still amplify sudden swings, the analysis says.
How each outlet framed it
- CoinDesk
- quantifies Bitcoin's 'sigma' days (10 in 2026 vs 8 in all of 2018) to argue standard risk models miss fat-tailed moves despite falling volatility
Sources: CoinDesk