Bitcoin now swings like Nvidia, but is still eight times more volatile than the euro

24 Oct 2026

24 Oct 2026, 02:01 UTC+02:00

Bitcoin has grown up, at least by one measure. Its price now moves about as much as the world’s largest company by market value. But compared with gold, stock indexes and major currencies, it is still a wild ride.

The numbers

CoinDesk compared 90-day realized volatility, the annualized standard deviation of daily returns, across major assets as of Thursday:

• Bitcoin: about 38%
• Nvidia: about 37%
• Gold: about 23.5%
• S&P 500: about 11%
• EUR/USD: about 4.6%

That makes Bitcoin a little more than three times as volatile as US stocks and roughly eight times as volatile as the euro against the dollar. Most fiat currency pairs have realized volatility below 10%, and EUR/USD stayed in single digits despite recent worries about French government debt.

A long way from 2020

The improvement is real. Bitcoin’s 90-day volatility has averaged about 58% since January 2020 and peaked at 134% in June 2020. Its calmest reading, 27.5%, came in September 2025 when prices were above $100,000. CoinDesk links the decline to more widespread risk management and professional participation, which makes the asset easier for institutions to hold.

Options markets currently price relative calm. Volmex’s 30-day Bitcoin implied volatility index (BVIV) sits below its 200-day average, while the VIX for the S&P 500 has moved above its own 200-day average, a sign that equity traders expect bigger swings. Whether crypto can stay calm if Wall Street volatility jumps is an open question.

What it means for traders

• Size like a tech stock, not a currency: a 38% annualized volatility implies daily moves of around 2% are normal. Leverage multiplies that quickly.
• Calm can end fast: low implied volatility often precedes sharp moves. Use stop losses and avoid maximum leverage.
• Diversification is limited: Bitcoin moving like Nvidia means it may not protect a tech heavy portfolio in a sell-off.
• Keep costs down: compare spot and futures fees in our crypto exchange fee index or estimate them with our fee calculator. Not financial advice.

Sources

• CoinDesk: Bitcoin's price is as jumpy as Nvidia's and eight times more turbulent than the euro

News is for information only and is not financial advice. More crypto news