On April 21, according to Coinglass data, Bitcoin volatility fell to 2.66%, after declining for eight consecutive days. High Bitcoin volatility is often associated with speculative trading and retail investor FOMO sentiment. A decrease in volatility may indicate a reduction in short-term speculators, and the market entering a consolidation or "cooling" phase. Additionally, Bitcoin price fluctuations are often linked to macroeconomic events, such as inflation expectations, interest rate changes, or geopolitical risks. When these external factors stabilize, Bitcoin's volatility may also decline.