Bitcoin’s 90-day realized volatility stood at about 38% as of Thursday, based on CoinDesk’s calculations. Its main rival, gold, is at about 23.5%. The S&P 500 sits at about 11%, so bitcoin is a little over three times as jumpy as stocks.
EUR/USD, which matches the euro — the shared currency of 21 countries — against the dollar, the global reserve currency, is the steadiest of all, with a 90-day realized volatility of 4.6%. Bitcoin is roughly eight times as volatile.
The currency pair’s volatility has stayed in single digits despite uncertainty over the French government debt and the resulting recent slide in the euro. Most fiat currency pairs have realized volatility below 10%.
That shows just how much ground BTC, despite its limited-supply feature, has to cover before it can rival traditional medium of exchanges and validate the bitcoin maximalists’ view that crypto is better than paper currencies.
The closest match is Nvidia at about 37%. Bitcoin and the AI bellwether now swing by almost the same amount.
The broader improvement in bitcoin, however, is clear. The cryptocurrency’s 90-day volatility has averaged about 58% since January 2020 and peaked at 134% in June 2020. Its calmest reading of 27.5% came in September 2025 when prices rose above $100,000.
