This is a zoom-in of the daily slopes.
Aside from the recent large spike — comparable in magnitude to some of the largest corrections we’ve seen in past cycles — the overall behavior is not fundamentally different from historical regimes. In other words, the volatility of the short-term growth rate looks dramatic in isolation, but it is still well within the envelope of what Bitcoin has exhibited before.
Crucially, the system is still growing along the trajectory implied by the power law. What has changed is not the underlying scaling behavior, but the reference level around which price is osc