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Bitcoin volatility has dropped to 38% and Ethereum ETF volume has surpassed BTC.
[Chain News] On August 22, it was reported that with the influx of buy-and-hold investors from Wall Street, the annualized volatility of Bitcoin has dropped from nearly 200% over a decade ago to 38%, comparable to blue-chip stocks such as Starbucks or Goldman Sachs. Meanwhile, the trading volume of Ethereum ETF has matched or even exceeded that of Bitcoin on some trading days this month. Since August, the Ethereum ETF has attracted $2.5 billion in capital inflow, while Bitcoin products have seen a net outflow of $1.3 billion.
Arthur Azizov of the early-stage investment-focused venture capital firm B2 Ventures expects the price of Ethereum to consolidate between $3,900 and $4,400, while a European executive from a certain platform stated that Ethereum is entering a risk-off sentiment, with some funds preparing for a pullback, and the possibility of a short squeeze cannot be ruled out. The current market attention is focused on Federal Reserve Chairman Powell's speech at the Jackson Hole symposium.