**Bitcoin Volatility Drops to Multi-Year Lows — Are Treasury Accumulations Fueling a Quiet Surge?**

Amid global macroeconomic stress, Bitcoin has shown unexpected calm, recording its third-lowest first-half (H1) volatility since 2012 — a sign of growing market maturity and strength.

Even as tension brews globally, firms like Sequans Communications are building major Bitcoin treasuries, quietly shifting market dynamics. On Tuesday, Bitcoin (BTC) traded above \$BTC 108,000 while maintaining historically low volatility. Sequans, a publicly listed French semiconductor firm, announced it had raised \$BTC 384 million in debt and equity to support its BTC reserve strategy.

According to K33 Research, this calm marks one of the most stable H1 periods for BTC in over a decade. Since May 22, daily price swings have been minimal, and implied volatility in options markets has steadily declined.

Vetle Lunde, K33’s Head of Research, noted that Bitcoin’s lack of sharp movement has kept option markets balanced, with little bias in either direction.

What stands out is the contrast between Bitcoin and traditional markets — while the S\&P 500 endured its second most volatile H1, Bitcoin remained steady. This divergence highlights BTC's increasing independence from traditional financial trends.

However, market activity has slowed, with last week’s average daily trading volume dipping 4% to \$BTC 2.1 billion, signaling temporary stagnation.

Sequans CFO Georges Karam explained that their move into Bitcoin aims to strengthen financial resilience and boost long-term value for shareholders. “We plan to keep accumulating BTC using surplus cash and future capital raises,” he said.

Sequans now joins a rising number of public firms adopting Bitcoin as a core treasury asset — a growing trend that may quietly reshape corporate finance and influence market behavior.

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