Definition. Annualized Realized Volatility (1 Year) is the standard deviation of BTC returns measured over a rolling one-year window, expressed on an annualized basis.

Technical. Computed from daily log returns and multiplied by sqrt(365) to yield the annualized realized volatility over a rolling 365-day window. Realized volatility measures past delivered movement, in contrast to implied volatility, which reflects the market's assessment of future volatility.

Interpretation. Higher values indicate phases of higher delivered risk in the market.