BTC short-term volatility is relatively weak, with arbitrage funds being the main driving force. Currently, there is a lack of incremental positive factors at the pricing level, and Gamma Wall and Put Wall continue to suppress volatility space — this is why the actual volatility (RV) has been steadily decreasing. For retail investors, placing breakout or breakdown orders has become significantly more difficult because the market's volatility is locked within a relatively narrow range. The defensive fortress of options shorts is quite solid; to create a continuous volatility trend, stronger new buying and selling forces are required.