Checkonchain founder James Check believes Bitcoin is gradually becoming a more ordinary, less speculative asset, providing the strongest case for a price rise. Glassnode data shows that Bitcoin’s one-month realized volatility has fallen to 25.2%; since 2015, only about 5% of trading days have been below this level. JPMorgan Asset Management expects Bitcoin to deliver annual returns of 10%, but has not included it in its model portfolios due to its unstable correlation and high historical volatility. Glassnode warns that long-term holders may sell as Bitcoin rebounds to $85,000. Check expects thin trading conditions to persist until Bitcoin breaks above $100,000.