In the past, Bitcoin halvings were accompanied by dramatic price fluctuations, but this time the market has been remarkably calm. Data analytics website CoinGlass shows that Bitcoin's volatility is currently below 2%, a historical low. Around the time of the third halving in 2020, Bitcoin volatility exceeded 5%, but this time the situation has changed significantly. Keiji Maeda, an executive at the Japanese crypto company Backsea, believes that the rule of thumb for Bitcoin halvings has broken down, and a stable bull market may continue. With increased market liquidity, the influence of short-term trading by individual investors has weakened; it can be said that the self-fulfilling prophecy of the rule of thumb driving speculative selling is no longer able to sway the market. (Nikkei News)