Intraday volatility reached May 2021 highs on Thursday last week

Thursday last week was far more volatile than what we express using day-to-day daily price changes.
Source: Tradingview (Coinbase, Binance)

Our usual volatility chart has some weaknesses. It neglects intraday volatility. As a workaround, to compare this Thursday to previous erratic days in the market, we’ve examined the average hourly high low difference in BTC both in the spot market and in perps.

On Thursday, May 12th, each hour on average saw 3.68% deviations between the high and low prices in the spot market. The intraday volatility has not been this high since May 20th, 2021.

Link copied to clipboard.