From my perspective there hasn't really been much volatility the last few days, at least not compared to the pace at which things moved especially last year. I guess from a stock market volatility perspective yeah, but to me it's sooooo sloooow moving and volumes have been so dead compared to 5-6 months ago. Then BTC was hitting sometimes in the low 20 billion USD daily volume range and the whole crypto market pushing 50B+. Lately I've seen maybe 6b on the highs and 3b, like today, on the lows with a total crypto volume around 10B. It's like the day traders have been pushed off the markets by the bots and HODLing away, like me. :)
I especially agree with your comment,
Eventually the fundamentals of the tech will take over. The crypto will simply be needed to fulfill its function on the blockchain, and that which isn't needed should fail to exist.
That's why I really focus on utility.