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The annualized volatility of Bitcoin has dropped to 46%, but the number of extreme market conditions this year has already surpassed that of the bear market in 2018

Since the beginning of 2026, Bitcoin has experienced 10 "3 standard deviation" trading days, exceeding the 8 times seen throughout the bear market of 2018. Although Bitcoin's annualized volatility has decreased from 84% in 2018 to about 46%, extreme market conditions still occur frequently relative to recent price volatility levels. "3 standard deviation" is used to measure the extent to which prices deviate from the recent normal volatility range. Data shows that the average price fluctuation for Bitcoin during such extreme conditions this year is about 7%, lower than the approximately 10% seen in 2018.Since 2024, Bitcoin's volatility has been around 47%, similar to Nvidia, but during the same period, Bitcoin has had 26 "3 standard deviation" trading days, far exceeding Nvidia's 8 times, the S&P 500's 16 times, and gold's 12 times. Market participants point out that macro shocks and the leverage and concentrated positions in the derivatives market are important factors contributing to the continued occurrence of extreme volatility. When investors sell options in large quantities, betting on market calmness, sudden news can force related concentrated positions to close, further amplifying price fluctuations.Deribit CEO Luuk Strijers stated that traditional Value at Risk (VaR) models struggle to adequately measure tail risks during extreme market conditions, and investors should pay more attention to risk indicators such as Expected Shortfall. Meanwhile, increased institutional participation, deeper liquidity, and improved risk management are also enhancing the market's ability to withstand shocks, but this does not mean that extreme volatility will disappear.

first_img Chainalysis: The number of P2P stablecoin wallets in China has increased 43 times

According to Cointelegraph, a report by Chainalysis indicates that from the first quarter of 2024 to the second quarter of 2026, the number of independent wallets sending peer-to-peer (P2P) stablecoin transactions in China increased 43 times.During the reporting period from July 2025 to June 2026, Chainalysis recorded 18.1 million transfers involving self-custodied stablecoin holdings in China, totaling $10.41 billion. The annual turnover rate of stablecoin holdings was 33.2 times, more than three times the global average of 9.3 times. Chainalysis believes this characteristic aligns with users using stablecoins as working capital.Chainalysis estimates that the size of China's crypto economy is at least $176 billion, with domestic P2P activities accounting for 59.1%, which is 3.5 times the share during the 2025 reporting period. In March 2026, the volume of stablecoin transfers within China increased by $4.9 billion, marking the largest monthly increase during the reporting period. This growth occurred amid China's long-standing restrictions on crypto trading, as regulators introduced new rules in February targeting unauthorized RMB-pegged stablecoins and tokenized real-world assets.Chainalysis pointed out that China's P2P-dominated market contrasts with other markets in East Asia. South Korea, with $449.1 billion, has become the largest crypto economy in East Asia, with activity growing by 12.3% compared to the previous reporting period, and retail investors showing a preference for AI-related tokens. Institutional platforms in Hong Kong accounted for 16% of service inflows, nearly three times that of regional neighbors, and recorded nearly $24 billion in business-to-business inflows, issuing the first batch of stablecoin licenses in April.

first_img In September, the number of job postings in the cryptocurrency industry increased to 1,241, while the number of applications decreased to less than 20,000

According to CoinDesk, data from the cryptocurrency recruitment platform CryptoJobsList shows that the number of job postings by cryptocurrency companies in September increased from 382 in July to 1,241, continuing to rise from 886 in August, and surpassing the most active month earlier this year, January, which had 573 postings. The number of companies posting jobs in September rose to 125, up from 107 in July, and briefly dropped to 77 in August.The platform believes that the recovery in hiring in September aligns with the seasonal pattern of business returning to normal after the summer off-season in the Northern Hemisphere, but the data indicates that seasonality is not the only reason: the number of job postings in August had already doubled compared to July, and there was no similar surge from August to September in 2025; the most active month that year, October, had only 373 postings, with data from July to September remaining basically flat.In contrast to the increase in job postings, the number of applications fell from 25,700 in July to 24,631 in August, and further declined to less than 20,000 in September. CryptoJobsList interprets this divergence as a tightening competition for professional talent. Over the past three months, finance has been the largest recruitment category, followed by engineering and trading, with stablecoins, AI, security, and compliance also making the top ten; the most requested blockchain skills are Bitcoin, Ethereum, and Solana.
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