According to CoinMeta, Jim Ferraioli, the head of cryptocurrency research at Jiaxin Financial Management, stated in an interview with Coinage on October 6 that the volatility of Bitcoin is continuing to decline as the market matures. The current volatility for this cycle is around 40, which is lower than in previous cycles. At the same time, more and more high-risk speculative activities are shifting away from Bitcoin, including towards areas such as DEFI, perpetual contracts, and predictive markets. Ferraioli believes that as the volume of Bitcoin continues to grow, extreme price increases and deep pullbacks decrease, the demand for high-risk speculation in the market has also shifted to other crypto assets and products.