A new report from Charles Schwab suggests that bitcoin is losing one of its defining characteristics: extreme volatility. It can be good or bad news.
According to the company analysisBitcoin’s price volatility has fallen sharply in recent years, with the economy now showing less volatility than major US tech stocks. The report found that the volatility of the BTC (HV) portfolio dropped to 42% in 2025 – almost half of what was recorded in 2021 – which shows a significant change as the cryptocurrency grows into a highly traded asset.
Schwab’s data shows bTC is now performing in line with the major players, and at times appears stable. Tesla shares registered 63% HV reading in 2025, while Nvidia registered 50%, both more than 42% of BTC. Measures of daily price movements, such as a true moving average, also show trends.
Despite the decrease in volatility, bitcoin will remain sensitive to sharp challenges. The Bitcoin reports a 32% decline in 2025with losses reaching the beginning of 2026. Over a long window of three years, BTC recorded a decline of more than 50%, proving that high volatility—even if it is slowing down—is not missing.
However, that is not all that was lost. Tesla fell a whopping 54% during the same period, while Nvidia fell 37% during the worst period. The data reveals a broader trend: high-growth technologies can exhibit volatility equal to, or even greater than, bitcoin.
Bitcoin’s long-term volatility remains high
Longer term, bitcoin’s long-term record remains high compared to the past. During the 2022 market crash, the cryptocurrency fell 77% from its peak, compared to a 74% drop for Tesla and 66% for Nvidia.
However, Schwab noted that Tesla’s five-year conversion metrics still outperformed BTC.
The report also compares BTC to commodities, showing that silver futures often show relatively stable daily price movements despite the low volatility. Gold, in contrast, is stored fixed benefits and less flexibility.
In the crypto markets, the relative stability of bitcoin has been widely recognized. Ethereum continues to trade with high volatility and deep declines, the gap between the two assets is widening from 2021.
Schwab confirmed that BTC’s evolution reflects its integration into the wider economy.
A clear example of Wall Street’s deep embrace of bitcoin is the Morgan Stanley Bitcoin ETF, MSBT, getting closer to starting after receiving notice of a NYSE listing, analysts say they often signal that they are coming.
If approved, the fund would be the first BTC ETF to be offered by a major US bank, setting it apart from existing offerings by asset managers like BlackRock and Fidelity.
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