There is an old saying "never short a dull market"
Ha, I still didn't know this one, interesting

I did know however that volatility is often seen as a warning sign as it indicates fear. And in 2023, I had started
this thread as the BitVol (another volatility index based on option prices, like a "Bitcoin VIX") was on all time lows. This was in July 2023, and it turned out that the low volatility in this period was indeed a good indicator for the (then) coming bull run.
Unfortunately the article you linked is behind a paywall, but I know what to search for now for more info about that phenomenon.
Looking at the BitVol now (see
source), the picture of the last months was really interesting. In February, we recorded a low-volatility (<50) period which led then to the March All-time high. In March, the relatively high BitVol correctly predicted an incoming drop. But in July, a low-volatility period was also recorded, and it led to lower prices (although the price rebounded fast every time it dipped). Now it's at 60, i.e. increasing a bit, but still moderate.

For me however, volatility is interesting also to answer the question "would I recommend Bitcoin to my mom?". The smoother the dips, the more potential for a positive answer to that question
