If volatility is decreasing, how come has Bitcoin recovered within a week from a 50% drop and then gone on to set a new ATH? Never before had a 50% drop been less than a crash, yet now it is just a correction shrugged off as any of the ~30% corrections to be found on every bull market in Bitcoin history. You could say it was a normal correction exacerbated by the US Congress hearings mania, but that would still show volatility as being constant.

It is so clear to me that I must be missing something.