Bitcoin (BTC) Important Signal: Volatility has dropped to the third lowest level since 2012, with BTC funds getting on board in large numbers.

Following the stable decline in volatility in the first half of this year, Bitcoin (BTC) trading prices broke through 108,000 USD on Tuesday, marking the third lowest level of volatility in the first half since 2012. Despite an increase in adoption of Bitcoin pools by publicly traded companies, the price of Bitcoin still experienced a fall, with Sequans Communications (SQNS) listed on the New York Stock Exchange raising 384 million USD to fund its Bitcoin pool.

According to a report released by K33 Research on Tuesday, Bitcoin's volatility has reached the third lowest H1 level in history this year, marking one of the calmest periods for the asset since 2012.

Since May 22, the daily volatility of top cryptocurrencies has remained low as the implied volatility in the options market continues to decline. This is particularly evident in the one-month and three-month at-the-money implied volatility, which has dropped to levels not seen since October 2023. K33 research director Vetle Lunde wrote, "BTC overall lacks direction, which continues to lead to a neutral directional bias in options as the deviations across various maturities remain close to neutral."

(Source: K33 Research)

During this period, the stability of top crypto assets has highlighted their increasingly strengthened resilience amid broader macroeconomic turmoil. Lunde added that this also reflects the growing divergence between them and the U.S. stock market, as the S&P 500 Index recorded the second largest fluctuation during the same period in the first half of the year.

At the same time, Bitcoin trading volume has shown weak growth, reflecting a slowdown in market activity. The average daily trading volume fell to 2.1 billion USD last week, a decrease of 4% from the previous week. The report pointed out that although Bitcoin trading volume is close to historical highs, the financing rates in the derivatives market remain moderate, indicating cautious investor sentiment.

As the number of companies launching BTC treasury reserves continues to increase, the decline in Bitcoin trading activity follows.

The semiconductor company Sequans Communications, headquartered in Paris and supported by the French government, announced on Tuesday that it has raised $384 million through debt and equity private placements to fund its new Bitcoin funding program. The company plans to collaborate with the Bitcoin-focused financial platform Swan Bitcoin to advance the initiative.

Sequans CEO Georges Karam stated: "We believe that the unique properties of Bitcoin will enhance our financial resilience and create long-term value for our shareholders. Our goal is to continue acquiring Bitcoin in the future, utilizing the excess cash generated from our core business operations and additional gains."

Sequans has joined the growing ranks of publicly traded companies that are using Bitcoin as a primary financial reserve asset, aiming to enhance shareholder returns. Data shows that these companies currently hold a total Bitcoin reserve of 852,309 coins. The business intelligence software company Strategy (formerly MicroStrategy), which promotes BTC financial strategies, accounts for 70% of this.