Glassnode, analyzing Deribit data, reports the Bitcoin Volatility Index (DVOL) is nearing its all-time low, signaling extreme complacency in the market. Historically, lower DVOL levels have been infrequent, occurring only around 2.6% of the time. This lack of demand for put options, used to hedge against price drops, suggests investors aren't worried about downside risk. While seeming positive on the surface, this complacency creates a vulnerability. Glassnode warns that such low volatility increases the risk of a "volatility shock." Unexpected negative news or market events could trigger a sharp and sudden increase in volatility, potentially leading to significant price corrections. Investors should be aware of this potential risk and consider strategies to protect their portfolios against unforeseen events. ```

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