Bitcoin's 30-day realized volatility, currently 42%, has remained below 50% this month, according to TradingView data. This is compared to South Korea's Kospi stock index, which is about twice the size of the largest cryptocurrency's market capitalization and is currently around 51%. This volatility has decreased in recent years, particularly since the introduction of spot ETFs in the U.S. in January 2024. Despite this volatility, bitcoin's appeal as a geopolitical hedge is strong when macro forces like wars disrupt traditional assets.