According to CoinMeta, although the price volatility of Bitcoin (BTC) is relatively low, this does not mean that the risk is also low. The current price of Bitcoin is $64,577.89, and the 30-day implied volatility has dropped to 36%. Generally, low volatility is seen as a sign of low risk, but this does not mean that one can relax their vigilance. When market volatility is low, transaction costs decrease, which may lead investors to take on large directional positions and hedging positions, thereby increasing the risk exposure for market makers. Once the market begins to fluctuate, both parties may engage in more position management, further exacerbating price volatility. Adam Haeems, the head of Tesseract Group asset management, stated that low volatility should not be mistaken for low risk, especially when trading volume and market depth are low. Currently, Bitcoin is fluctuating below $65,000, with weak market demand and a lack of strong buying pressure for an upward trend.