Golden Finance reports that Jeff Dorman, chief investment officer of asset management company Arca, said that the volatility of BTC and other cryptocurrencies will be low for a long time in 2023, and the number of price fluctuations will also be limited, which is in sharp contrast to the previous three years. There were very few sideways trades during the year. Additionally, Bitcoin’s year-to-date gain of more than 50% has failed to spur trading activity, as evidenced by continued downward trends in trading volume and market depth. Apart from regulatory hurdles and a lack of cheap liquidity that has fueled the startup ecosystem over the past three years, reduced household disposable income may also explain the situation. When disposable income falls, risk assets such as stocks and cryptocurrencies are affected, while the latter are more sensitive, such as the art market. Households' willingness to take risks in investments is inversely related to the level of disposable income, or the level of funds available after expenditures and taxes.