Bitcoin’s price slipped on Monday, dipping below the $70,000 threshold amid heightened market volatility ahead of the anticipated halving event later in the month.

Over the past 24 hours, BTC fell more than 1%, reaching $69,597.8 by 07:26 ET (11:26 GMT).

Realized volatility for Bitcoin surged to 63.76% over the past 30 days, remaining above 60% by the end of the week, according to Glassnode data. This level marks the highest since August 2022. Realized volatility measures the deviation of returns from their average over a specified timeframe, with higher figures indicating greater risk of price fluctuations.

Interestingly, Bitcoin’s 30-day realized volatility now exceeds Ethereum’s by nearly 10 percentage points, representing the widest gap seen in over a year, as reported by analytics firm Kaiko.

This divergence in volatility levels emerged shortly after the U.S. Securities and Exchange Commission (SEC) approved a series of spot Bitcoin exchange-traded funds (ETFs). These ETFs provided traders with indirect exposure to Bitcoin without direct ownership.

According to analysts at JPMorgan, sales of approximately $184 million were recorded across U.S. spot Bitcoin ETFs on Thursday, the 54th trading day for the group. Daily gross flows excluding Grayscale’s GBTC were $289 million, with BlackRock’s IBIT and Fidelity’s FBTC notably underperforming historical averages.

Grayscale’s GBTC redemptions amounted to just -$105 million, below its running average of -$273 million since launch. Bitwise’s BITB vehicle, however, experienced a significant uptick with $67 million in inflows on Thursday, well above its daily average of $30 million.

The spotlight has been on the performance of these spot ETFs following the SEC’s approval, leading to increased volatility in Bitcoin and the wider cryptocurrency market. Meanwhile, diminished expectations for the approval of an Ethereum ETF by May have dampened trading enthusiasm among ETH investors.

In other news, Bitkub Capital Group Holdings, the parent company of Thailand’s leading cryptocurrency exchange Bitkub Online, is preparing for a public share offering next year, according to CEO Jirayut Srupsrisopa. The firm aims for a listing on the Stock Exchange of Thailand to enhance visibility and secure additional funding. This move follows the sale of a 9.2% share of Bitkub Online Co. in July 2023, signaling confidence in the exchange’s future growth.