[Analysis: Bitcoin's 30-Day Implied Volatility Drops to 36% Long-Term Bottom, Low Volatility Does Not Equal Low Risk] According to a report by Coindesk, Bitcoin's 30-day implied volatility has dropped to a long-term support bottom of 36%, with prices fluctuating narrowly below $65,000. Adam Haeems, Head of Asset Management at Tesseract Group, warned, 'When market volatility is low, traders can establish directional positions and hedges at relatively lower costs. If the market subsequently breaks through a concentrated position level, traders' hedging activities may accelerate this trend.' 'The key takeaway is that low volatility should not be mistaken for low risk. Therefore, extra caution is required when using leverage, especially in conditions of low trading volume and market depth.'