📉 $BTC volatility hits rare lows — just 70%, nearing the calm we last saw at the $26K cycle bottom in Sept ‘23. Low-volatility phases like this often precede big moves 🚀... but which way? 🤔

On-chain tells a cautionary story:

🔻 Transactions down to 188K (multi-week low)

🔻 Network growth just 72K new wallets

📈 NVT Ratio spikes to 412 — hinting at overvaluation

⚠️ Stock-to-Flow down 71% — scarcity narrative under pressure

💰 Puell Multiple dips to 1.25 — miner revenue tightening

This is classic sideways market behavior — fading user participation, shrinking miner profitability, but no outright distress yet. Historically, quiet markets are launchpads for explosive reversals.

My take: If macro catalysts ignite demand while volatility stays compressed, BTC could surprise both bulls and bears. For now — patience is the edge. 🧠💎