#Gate广场四月发帖挑战 A signal that many people overlook is:

Volatility is rapidly decreasing.
Whether it's implied volatility (IV) of options or on-chain actual volatility (RV), both have recently shown clear convergence. This situation typically occurs in two phases:
1) Trend continuation
2) Just before a major market breakout
Currently, it leans more toward the second.
The reason is: macro-level factors remain highly uncertain (interest rate paths, geopolitical conflicts), but market prices have not synchronized with increased volatility, which is essentially a "compression state."
From a derivatives structure perspective, the Skew (skewness) is returning to neutrality, indicating that the market's pricing of extreme events is decreasing, but this often reflects risk accumulation rather than release.
In other words, the market now is like a compressed spring.
Once a new catalyst appears (such as policy shifts, large-scale ETF inflows, or escalation of geopolitical events), volatility will rapidly expand and amplify price movements.