The Bitcoin (BTC) and Ether (ETH) 90-day price volatility hit a new multi-year low in August as the top two cryptocurrencies continue to trade under their key resistance of $30,000 and $2,000 respectively.

According to data shared by crypto analytic firm Kaiko, the 90-day volatility of BTC and ETH hit 35% and 37% respectively making it less volatile than oil with volatility of 41%. Such a decline in the price momentum of the top two crypto assets was last seen in 2016.

90-day price volatility of Bitcoin, Ether and Oil. Source: Kaiko

The chart above indicates that BTC and ETH price volatility is more than half at the same time last year. While August is considered a bullish month for the crypto ecosystem, the declining price fluctuation is considered bullish by many.

Apart from the 90-day volatility at its lowest in 7 years, the daily Bitcoin volatility is also at 5-year low.

Bitcoin daily volatility reaches 5-year low. Source: TradingView

Bitcoin technical analyst who goes by the social media name of Cryptocon took to X platform to share observations about Bitcoin price volatility decline and what actually follows the period of low volatility.