The short answer to this is yes, but we all know that the short answer never does Bitcoin any justice. So what is the long answer you may ask? Well, there is no one long answer, but there are a couple of indicators and factors that may hold the answer.
One of the factors that play a role in volatility is the activity of Crypto Whales and here is how:
https://www.tap.global/on-chain-activities-suggests-bitcoin-volatility-will-continue Do you think Crypto Whales play a significant role in Bitcoin price volatility?
Bitcoin price volatility will continue forever,because the global Bitcoin supply is limited to 21M(and because lot's of BTC users are just HODLers,which reduces the global Bitcoin supply even further).
With or without crypto whales,the Bitcoin price volatility will never stop.It might get lowered to a sertain degree via mass adoption,but as a matter of fact,price volatility is what actually stops further mass adoption of Bitcoin.I know that crypto whales play some role in the price volatility,but their influence will decrease slowly,as more and more people will enter the world of Bitcoin.